Subhash Projects to issue shares on preferential basis

Subhash Projects & Marketing Ltd has announced that the Board of Directors of the Company at its meeting held on June 30, 2007, has, subject to the approval of the members of the Company by way of special resolution u/s 80(1A) of the Companies Act, 1956 and subject to pricing and payment terms as per the SEBI (Disclosure & Investor Protection) Guidelines, 2000 decided to issue upto 81,63,265 equity shares of Rs 2/- each, at a premium of Rs 243/- each, and upto 20,40,816 warrants at an exercise price of Rs 245/- of the Company, aggregating to an amount not exceeding Rs 2,500,000,000 to:

1. CVCIGP II Client Rosehill Ltd, and
2. CVCIGP II Client Employee Rosehill Ltd

(the persons in (a) and (b) above, collectively referred to as the Investors)

on preferential allotment basis, to the extent and in the manner approved by the shareholders of the Company. No decisions or agreement has been reached by or between the investors.

Source : Equity Bulls

Keywords