Prajay Engineers to raise funds of upto US$ 50 Million

Prajay Engineers Syndicate Ltd has announced that the Board of Directors of the Company at its meeting held on October 29, 2007, inter alia, has considered and approved the following:

1. Reconsidered the decision taken at the meeting of the Board of Directors of the Company held on October 22, 2007 regarding raising of funds upto US$ 50 million through QIP route and now decided at this meeting to raise finds of upto US$ 50 million through QIP / GDR route in the domestic / international market.

2. Revised the date of Extra Ordinary Meeting of Shareholder of the Company to November 29, 2007 as against November 19, 2007 as intimated earlier, to consider and approve raising the funds through QIP / GDR issue and to increase Authorised share capital of the Company to Rs 50 crores.

Source : Equity Bulls

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