Board of Intellect Design Arena approves rights issue up to Rs 200 crore
At meeting held on 13 January 2017
Intellect Design Arena announced that the Board of Directors of the Company at its meeting held on 13 January 2017 approved the following -a) Raising of funds by way of issue of equity shares to the existing shareholders of the company on a rights basis (Rights Issue) upto Rs. 200 crore, subject to all applicable Statutory and Regulatory approvals
b) Adoption of Re-stated financial statements for the last five years
c) Stub-period financials for the half year ended 30 September 2016
d) Taking on record Draft Letter of Offer (DLOF) to be filed with SEBI.
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