Shree Ashtavinayak Cine Vision to raise $150 million

Shree Ashtavinayak Cine Vision Ltd has announced that the Board of Directors of the Company at its meeting held on September 28, 2009, inter alia, has decided to raise funds upto US $ 150 millions through Global Depository Receipts and / or American Depository Receipts and / or Foreign Currency Convertible Bonds (FCCBs) any instrument or securities representing either equity shares and / or convertible securities linked to equity shares (including Qualified Institutional Buyers (QIBs) pursuant to SEBI (Issue of Capital and Disclosure Requirements Regulations, 2009.

The Board approved proposal to convene Extra Ordinary General Meeting on October 24, 2009.

The stock was trading at Rs.68.60, up by Rs.0.55 or 0.81%. The stock hit an intraday high of Rs.72 and low of Rs.62.50.

The total traded quantity was 605837 compared to 2 week average of 645268.

Source : Equity Bulls

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