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Board of Sakuma Exports approves sub-division of shares and fund raising upto Rs 800 cr

Capital Market 

The Board of Exports at its meeting held on 06 September 2018 has approved the following -

Sub-of the Company from the existing face value of Rs. 101- per equ ity share to face value of Re. 1/- per equity share.

The alteration of ' Capital Clause - Clause Y' of the Memorandum of Association of the Company as per Section 13 and 61 and all other applicable provisions, ifany, of tile Companies Act, 2013 read with the rules made thereunder, subject to the approval of the Members of the Company.

The Board of Directors of the Company have, subject to receipt of shareholders' approval, approved raising funds by issue of equity shares, as may be permitted, by way of a qualified institutions placement ('QIP')/Foreign portfolio Investment (FP I) or any other placement for an aggregate amount not exceeding Rs. 800 crore.

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

First Published: Fri, September 14 2018. 15:50 IST