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Article: Kalindee Rail to raise about Rs 150 cr.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- March 17, 2008
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Kalindee Rail to raise about Rs 150 cr
Mumbai, Mar 17 (PTI) Kalindee Rail Nirman Engineers today said it will raise up to Rs 150 crore through issue of specified securities to Qualified Institutional Buyers.
Further, it would raise money through allotment of 18 lakh convertible equity warrants to promoters at a price of not less than Rs 402 per warrant, the firm said in a filing to the Bombay Stock Exchange.
In addition, the company would increase the investment limit of Foreign Institutional Investors up to 74 per cent.
These proposals were approved by the shareholders during their Extra Ordinary General Meeting held on March 15.
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