MoU1 Sept 2024, 02:56 am
Sadbhav Engineering Ltd. Announces Increase in Authorized Share Capital and Plans to Raise Funds Up to Rs. 750 Crores
AI Summary
Sadbhav Engineering Ltd. has announced an increase in its authorized share capital and plans to raise funds up to Rs. 750 Crores. The company will seek shareholder approval and necessary regulatory approvals for these changes. The fundraising will be done through various methods including preferential issue, right issue, conversion of unsecured and secured loans, and public and/or private offerings. The company has also decided to hold its Annual General Meeting on 30th September 2024 through Video Conferencing / Other Audio-Visual Means.
Key Highlights
- Authorized share capital to be increased from Rs. 20,00,00,000 to Rs. 50,00,00,000 divided into 50,00,00,000 Equity Shares of face value Rs. 1/- each.
- Plan to raise funds up to Rs. 750 Crores through various methods.
- Fundraising to be done through preferential issue, right issue, conversion of unsecured and secured loans, and public and/or private offerings.
- Annual General Meeting to be held on 30th September 2024 through Video Conferencing / Other Audio-Visual Means.
- Register of Members and Share Transfer Books to remain closed from 24th September, 2024 to 30th September, 2024 for the purpose of the Annual General Meeting.