Anant Raj Industries to raise upto Rs 2000 crore

Anant Raj Industries Ltd has announced that the Board of Directors of the Company at its meeting held on May 29, 2009, inter alia, has approved the raising of funds upto Rs 2000.00 Crores (Rupees Two Thousand Crores only) by issue of securities through private placement to the Qualified Institutional Buyers (QIBs) in terms of provisions of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investors Protection) Guidelines 2000 as in force or by way of issue of ADR / GDR / FCCB or such other / similar means., subject to the approval of the shareholders and any other regulatory authorities.

The Board approved issue of Fully Convertible Warrants in the Company to the Promoter(s) on preferential allotment basis in terms of Chapter XIII of the SEBI (Disclosures & Investors Protection) Guidelines, 2000.

The Board also approved appointment of Shri. Brajinder Mohan Singh as an Additional Director of the Company w.e.f. May 29, 2009 and notice to convene an Extra-ordinary General Meeting of the shareholders on June 25, 2009.

The stock was trading at Rs.127.45, up by Rs.6.05 or 4.98%. The stock hit an intraday high of Rs.127.45 and low of Rs.127.45.

The total traded quantity was 8640 compared to 2 week average of 111960.

Source : Equity Bulls

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