At meeting held on 06 May 2017
Veto Switchgears & Cables announced that the Board of Directors of the Company at its meeting held on 06 May 2017 have approved preferential offer & issue of up to 45,00,000 (Forty Five Lacs) convertible warrants convertible into an equivalent number of Equity Shares of face value Rs. 10/- each to Akshay Kumar Gurnani, & Mohan Das Gurnani; both belonging to its promoter group. The proceeds of the preferential issue will be used for augmenting long term working capital, CAPEX for LED Factory, meeting Preferential Issue Expenses and other corporate general purpose. Offer & issue of these warrants would be in accordance with Chapter VII of SEBI(ICDR) Regulations 2009. For seeking shareholder's approval, inter alia, to aforesaid issuance of warrants, Board has convened an Extraordinary General Meeting of its Shareholders on Wednesday, 31 May 2017.Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app