Visu International to raise $15 million

Visu International Ltd has announced that the Board of Directors of the Company at its meeting held on April 23, 2010, inter alia, has decided to issue Securities / instruments in the form of FCCB's / GDR's / QIP's / QIB's etc. to the extent of US $ 15 millions subject to the approval of members of the Company.

The Board will conduct the postal ballot for the purpose of obtaining assent / decent of the members of the Company pursuant to section 81(1A) of the companies Act, 1956 to issue Securities / instruments in the form of FCCB's / GDR's / QIP's / QIB's etc.

The Board also approved to withdraw the proposal of issuing the further Shares in the form of GDR's, informed earlier vide letter dated May 25, 2009 for which in-principle approval was given by Stock Exchanges.

The stock was trading at Rs.5.05, down by Rs.0.13 or 2.51%. The stock hit an intraday high of Rs.5.28 and low of Rs.5.

The total traded quantity was 36931 compared to 2 week average of 81218.

Source : Equity Bulls

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