Board of Oberoi Realty approves raising funds through preferential issue of shares

At meeting held on 19 June 2015

Oberoi Realty announced that the Board of Directors of the Company at its meeting held on 19 June 2015, inter alia, has:

1. approved raising funds by way of issue of up to 1,10,00,000 equity shares of Rs. 10 each of the Company (the Equity Shares) for cash to Aranda Investments (Mauritius), (the 'investor), (a non-promoter company and a deemed Foreign Portfolio Investor) having its office at c/o CIM Corporate Services, Les Cascades, Edith Cavell Street, Port Louis, Mauritius, holding SEBI Registration number 20120107, having PAN AAFCA0250J and a wholly owned indirect subsidiary of Temasek Holdings, having its registered office at 60B, Orchard Road. #06-18 Tower 2, The Atrium@Orchard, Singapore 238891, on a preferential basis at a price of Rs. 295 per Equity Share aggregating to approximately Rs. 324.5 crore, subject to requisite approvals of the shareholders of the Company(the Shareholders) and any regulatory authorities, as may be required; and

2. decided to convene an Extraordinary General Meeting of the Company on 17 July 2015 at Mumbai for obtaining the approval of the Shareholders for the preferential issue of Equity Shares to the Investor as stated above.

In terms of Regulation 71 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (as amended), the relevant date for the pricing of the Equity Shares, to be allotted under the aforesaid preferential issue shall be 17 June 2015.

Powered by Capital Market - Live News