Birla Tyres Limited to raise Rs. 1100 crores

The Board of Directors of Birla Tyres Limited at its meeting held today approved the fund raising plan of an amount aggregating upto Rs. 1,100 Crores, by way of Equity and/or Debt Instruments including Non-Convertible Debentures and/or Preference Shares for the Company and also including Rights Issue and/or Preferential Allotment and/or Issue of Global Depository Receipts/American Depository Receipts and/or by a combination of any of the above, as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required, including approval of the shareholders of the Company.

A Committee of the Board is constituted, which shall look into and decide/formulate further details of the above fund raising viz. security type, issue size, price, record date, allottees, timing of Issue etc. and all other modalities and take all necessary actions to get implemented the aforesaid decision.

Source : Equity Bulls

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