Era Constructions EGM approves fund raising proposal, to issue GDR / ADR / FCCB

Era Constructions India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 09, 2006 have approved the following:

1. Raising funds by way of issue of GDRs / ADRs / FCCBs or any other instrument upto US $ 200 millions.

2. Raising the borrowing limits of the Company upto Rs 2000 Crore.

3. Creation of charge on the assets of the Company by way of mortgage / hypothecation etc. for securing loans / advances etc upto Rs 2000 Crore.

Source : Equity Bulls

Keywords