This is to inform you that the Company for meeting funding requirements for its business purposes, the Board of the Company, at its meeting held today, April 21, 2017.
This is to inform you that to augment the long-term resources of the Company for meeting funding requirements for its business purposes, the Board of the Company, at its meeting held today, April 21, 2017 (commenced at 8:00 P.M. & concluded at 9:15 P.M.), has approved preferential offer & issue of 47,390,000 equity shares at an issue price of Rs. 94.70 (including a premium of Rs. 92.70) per equity share, for cash consideration, to Tamarind Capital Pte Ltd, a company incorporated in Singapore, ('Investor'). The total equity investment by the Investor would aggregate to Rs. 4,487,833,000. The offer & issue of these equity shares is in accordance with Chapter VII of the SEBI (ICDR) Regulations 2009, as amended & other applicable provisions of FEMA & rules & regulations framed thereunder or prescribed by any other Regulator. For seeking shareholder's approval, to the aforesaid issuance, the Board has convened an EGM of its shareholders on Monday, May 22, 2017.Source : BSE