Indiaco Ventures to consider preferential issue

Indiaco Ventures Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 04, 2008 to consider & approve issuance of 11221 equity shares of Rs 10/- each, the issue price being Rs 950/- each (inclusive of premium of Rs 940/- each) on a preferential basis to Jabali Finance Company Ltd, 325 Waterfront Drive, Omar Hodge Building, 2nd Floor, Wickham's Cay, Road Town, Tortola, BVI subject to the approval of Shareholders by way of postal ballot and also in accordance with the provisions of Section 81 (1A) of the Companies Act, 1956 and all applicable Guidelines & Regulations as laid down by SEBI / FEMA.

To Consider the appointment of Scrutinizer for conducting the postal ballot process in fair & transparent manner.

To Consider & approve the formation of an Asset Management Company and for that the Company seeks approval from the board to begin the process of creating a wholly owned subsidiary of Indiaco Ventures Ltd and to authorize Mr. Dhananjay Bendre, Executive Director to complete all formalities.

The primary objective of Indiaco Asset Management Company Ltd (IAMC) will be to provide Asset Management services to Indiaco group Companies and other external entities after complying with all the necessary legal formalities.

Consider & approve Company's activities in Debt financing by way of entering in alliance / partnership with Indian or overseas Companies.

Source : Equity Bulls

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