Asian Electronics to raise Rs 300 Crores

Asian Electronics Ltd has announced that the Board of Directors of the Company at its meeting held on January 02, 2008, has decided to raise funds upto Rs 300 crs. in the form of equity / debt by means of issuance of equity / convertible debt or non convertible instruments such as equity share, preferential equity, GDR, ADRs, Optionally fully convertible instruments, FCCB, QIP and / or any other instruments or combination of any similar instruments as may be advised by the merchant bankers and in compliance of guidelines issued in this regard by SEBI and the provision of the Companies Act, 1956 and to convene an Extra-ordinary General Meeting of the Shareholders of the Company on February 21, 2008 to seek shareholders approval, necessary, for the above fund raising programme.

The stock was trading at Rs.561, up by Rs.14.70 or 2.69%. The stock hit an intraday high of Rs.585 and low of Rs.541.

The total traded quantity was 135629 compared to 2 week average of 150648.

Source : Equity Bulls

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