Genesys Int approves fundraising up to Rs 350cr

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Genesys Int approves fundraising up to Rs 350cr

Genesys International Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 29, 2010, inter alia, has approved the following, subject to approval of shareholders of the Company and other regulatory authorities

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Genesys International Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 29, 2010, inter alia, has approved the following, subject to approval of shareholders of the Company and other regulatory authorities:

1. Raising of additional funds by way of issue of Foreign Currency Convertible Bonds (FCCBs) and / or Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) and / or Qualified Institutions Placement (QIP) or through any other mode of securities to the extent of Rs. 350 Crores and

2. Increase in the borrowing powers of the company to the extent of Rs. 400 Crores.

In this connection, the Board also approved Notice of Extra Ordinary General Meeting scheduled (EGM) on January 31, 2010.