Brief: Gitanjali Gems board approves raising of funds upto 1.10 bln rupees

Gitanjali Gems

11/08/2016 14:23

Aug 11 (Reuters) - Gitanjali Gems Ltd  GTGM.NS : 
 * Approved to raise funds upto INR 1.10 billion by issue of convertible 
   warrants through preferential allotment 
 
* Source text: Gitanjali Gems Limited has informed the Exchange that Please be informed that the Board of Directors of the Company at its meeting held August 11, 2016, has decided /approved the following :1. The Annual General Meeting ( AGM ) of the Company for the financial year ended March 31, 2016, is scheduled to be held on September 30, 2016.2. To raise funds upto Rs. 110 crores by issue of Convertible Warrants to promoter/promoter group/persons other than promoters through preferential allotment subject to the approval of shareholders, and in accordance with provisions of Companies Act, 2013 and the Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable statutory provisions. The Shareholders approval will be sought in this regard in the ensuing AGM scheduled to be held on September 30, 2016. 
 
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