Punj Lloyd approves fund raising proposal

Punj Lloyd Ltd has announced that subject to the approval of shareholders in general meeting, the Board of Directors of the Company, has approved the following:

- Raising of funds through issue of appropriate securities including but not limited to issuance of equity shares not exceeding 35,416,700 or issuance of such other convertible securities, which would on conversion result in issuance of equity shares not exceeding 35,416,700 or any combination of above.

- Preferential allotment of warrants not exceeding 10,000,000 to promoters with each warrant giving the holder a right to subscribe one equity share of the Company.

Source : Equity Bulls

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