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Board of Repro India approves raising funds upto Rs 80 crore

Capital Market 

At meeting held on 07 October 2017

announced that the Board of Directors at its meeting held on 7 October 2017 has inter alia considered and approved the following:

1.Raising funds by way of preferential issue of equity shares & warrants to the Investors other than promoters/promoters group upto an amount of Rs. 80 crore, subject to approval of regulatory authorities and approval of shareholders, as may be required,&

2.To convene an EGM of the Company on 02 November 2017 for obtaining the Shareholders approval & passing the necessary Special Resolutions in this regard under the provision of the Companies Act, 2013.

The above proposals to issue of shares/securities a warrants by way of preferential allotment shall be subject to necessary confirmation, consents, etc. of regulatory authorities as may be necessary, approval from shareholders of the Company and in compliance with applicable law including the provisions of the SEBI (ICDR) Regulations, 2009 and the Companies Act, 2013.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, October 07 2017. 15:40 IST