EIH to raise funds through issue of securities

EIH Ltd has announced that the Board of Directors of the Company at its meeting held on March 08, 2007, has considered and approved and issue(s) of Equity shares:

The issue(s) could take one or more of the following forms:-

i. either be in India or as international offering(s) in one or more foreign markets;

ii. either be made directly to investors through a private or public placement or through the Depository Receipt mechanism or to Qualified Institutional Buyers pursuant to a Qualified Institutional Placement as per Chapter XIIIA of the SEBI (Disclosure and Investment Protection) Guidelines, 2000 or otherwise.

The issue would be for an amount not exceeding Rs 400 crores and be denominated either in Indian Rupees or equivalent foreign currency. This amount will be inclusive of any premium that may be determined by the Board.

Kotak Mahindra Capital Company Ltd has been appointed as the Global Co-ordinator and Sole Bookrunner.

Shareholder approval as per the provisions of Section 81(1A) of the Companies Act, 1956 is being sought through postal ballot. Ballots are being despatched to individual Shareholders. The results of the Postal Ballot will be declared by the Scrutineer appointed for the purpose no later than on April 07, 2007.

Source : Equity Bulls

Keywords