Board of Shalby approves reduction of promoter holding and equity issue up to Rs 117 cr

On 28 September 2020

The Board of Shalby at its meeting held on 28 September 2020 has passed an enabling resolution to reduce the promoters' holding from the current 79.45% to 75% and to increase public shareholding to at least 25%, subject to the approval of shareholders and/or other regulatory / statutory approvals, approved the raising of funds as follows:

Issuance of equity shares, other convertible securities / warrants / Global Depository Receipts / American Depository Receipts / any other financial instruments / securities convertible into and/or linked to equity shares (including warrants (detachable or not), or otherwise, in registered or bearer form) or a combination thereof, issuance of unsecured and/or secured, listed and/or unlisted, Foreign Currency Convertible Bonds (FCCBs) or other similar security denominated in foreign currency(ies) through preferential issues, private placements, qualified institutions placement or rights issue, or through any other permissible mode or any combination thereof of any of the above, subject to shareholders' approval and all such regulatory / statutory approvals as may be required, for an amount aggregating upto Rs 117.01 crore.

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