SHILPA MEDICARE LTD. - Outcome of Board Meeting
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| 11 Apr 2014 | |
| Shilpa Medicare Ltd has informed BSE that the Board of Directors decided at their meeting held on April 11, 2014, in accordance with Regulations of Chapter VII of the SEBI (ICDR) Regulations, 2009 and section 42 of the Companies Act, 2013 and Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014, and subject to the approval of shareholders, Stock Exchanges, Central Government and other regulatory authorities if necessary, to raise funds upto Rs. 75 Crores (Rupees Seventy Five Crores Only) by issuing equity shares on preferential basis to FIIs/ FCBs/any Other Investor at the price calculated as per the regulation 76 of Chapter VII of the SEBI (ICDR) Regulations, 2009.<br/><br/>The Board also proposed to increase the Limit for FIIs' holding up to 30% from the existing general limit of 24% as prescribed under the FDI Policy subject to the approval of Shareholders and prior intimation to Reserve Bank of India.<br/><br/>In this regard the Board authorized the Managing Director to issue notice to the shareholders of the Company as required under the Companies Act and the applicable Regulations of SEBI and Listing Agreement and also to obtain necessary approvals from shareholders and various statutory bodies as required and to do all the needful thereto. | |
| View all announcements for SHILPA MEDICARE LTD. | Source: BSE India |
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