Indage Vintners approves raising of funds upto Rs 200 crore

Indage Vintners Ltd has announced that the Board of Directors of the Company at its meeting held on June 09, 2009, inter alia, has approved in principle, subject to the consent of Members and other Regulatory approvals, raising of funds not exceeding Rs 200 crores by way of issue of equity shares and convertible equity share warrants and/or optionally convertible debentures on preferential basis to the identified investors, Promoters/Promoter group entities and/or Qualified Institutional Placement to QIBs at a price and on the terms and conditions determined in accordance with the applicable SEBI Guidelines. An Extraordinary General Meeting is being convened to seek the approval of the members. The date of the EGM will be conveyed separately.

The stock was trading at Rs.108.35, down by Rs.5.65 or 4.96%. The stock hit an intraday high of Rs.119 and low of Rs.108.35.

The total traded quantity was 293423 compared to 2 week average of 485831.

Source : Equity Bulls

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