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The Phoenix Mills Ltd - Outcome of Board Meeting
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11 May 2015
Phoenix Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 11, 2015, has approved, subject to the approval of the shareholders, raising of funds not exceeding Rs. 10,000 million (including premium) by issue of equity shares and / or any other securities convertible into equity on private placement basis through Qualified Institutions Placement (QIP) under SEBI Regulations and / or through preferential issue of securities and / or through issuance of securities in the domestic / international markets by way of FCCBs, GDRs, etc. in one or more tranches and to utilize the net proceeds of the proposed issue towards capital expenditure, working capital requirements, funding growth opportunities including investing in existing and proposed business ventures, reduction of debt, general corporate purposes and for such other purposes as may be permitted by applicable laws.&lt;BR&gt;&lt;BR&gt;Further, the Board of Directors of the Company has also approved the postal ballot notice dated May 11, 2015 for obtaining shareholders&apos; approval for the above through postal ballot / e-voting.&lt;BR&gt;&lt;BR&gt;Mr. Himanshu S. Kamdar, Practicing Company Secretary and Partner, Rathi &amp; Associates has been appointed by the Board to act as the Scrutinizer for the entire Postal Ballot and E-voting process.
View all announcements for The Phoenix Mills Ltd Source: BSE India