CHD Developers to raise authorized capital, issue securities

CHD Developers Ltd has announced that the Board of Directors of the Company at its meeting held on December 08, 2006 has decided the following:

1. Raise the authorized share capital of the Company to Rs 13,00,00,000/- divided into 6,50,00,000 Equity Shares of Rs 2 each.

2. To create, offer, issue and allot Equity Shares / Fully Convertible debentures / partly convertible Debentures or any Securities other than warrants, which are convertible or exchangeable with Equity Shares at a later Date (Specified Securities) for an amount not exceeding Rs 50 Crores inclusive of such premium, to Qualified Institutional Buyers (QIBs), under the Provisions of Chapter XIIIA of the SEBI (DIP) Guidelines, 1992, and / or to such other Investors as acceptable to the Company through Preferential Issue, subject to necessary provisions and approvals.

For the above purpose, the Board of Directors has decided to hold the Extraordinary General Meeting of the members of the Company on January 09, 2007.

Source : Equity Bulls

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