Sadbhav Engineering EGM approves increase in FII limit

Sadbhav Engineering Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 06, 2007, inter alia, have accorded to the Board for the investments by Foreign Institutional Investors including their sub-accounts ("the FIIs"), in the shares or securities convertible into shares of the Company, by purchase or acquisition from the market under the Portfolio investment Scheme under FEMA, subject to the condition that the total holding of all FIIs put together shall not exceed 49 per cent of the paid up equity share capital or paid up value of the respective series of the Securities of the Company as may be applicable or such other maximum limit as may be prescribed from time to time, subject to necessary provisions and approvals.

Source : Equity Bulls

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