Gitanjali Gems Ltd to issue FCDs to HT Media Ltd

The Board of Directors of Gitanjali Gems Ltd at its meeting held today i.e. September 28, 2017 has decided to issue Fully Convertible Debentures to HT Media Limited on preferential basis on such terms and conditions and on such price as determined by the Board in accordance with the provisions of Companies Act, 2013, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), Regulations, 2009 and other applicable statutory provisions.

The Board will approach the shareholders of the Company through Postal Ballot pursuant to Section 110 of the Companies Act, 2013 to seek approval on the issuance of Fully Convertible Debentures to HT Media Limited.

The Board of Directors has also approved the Notice of Postal Ballot to be sent to the members of the Company for their approval.

The meeting of the Board of Directors of the company commenced at 2.00 p.m. and concluded at 5.15 p.m.

Shares of GITANJALI GEMS LTD. was last trading in BSE at Rs.67.35 as compared to the previous close of Rs. 66.2. The total number of shares traded during the day was 51089 in over 566 trades.

The stock hit an intraday high of Rs. 68.2 and intraday low of 66.05. The net turnover during the day was Rs. 3446210.

Source : Equity Bulls

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