Jai Balaji Industries Ltd has informed the BSE that the board of directors of the company at a meeting on December 17 approved the plan to execute a series of expansion projects at its manufacturing unit at Banskopa in West Bengal at a total cos t of Rs 1,055 crore. The entire project will be completed in phases in between September 2008 and June 2009.
The board also decided to call an EGM on January 10 to seek approval of the members of the company for preferential allotment of 61,18,000 zero coupon fully convertible debentures of the face value of Rs 326.90 each for cash at par to Citi Venture Capita l Fund and 22,41,000 such debentures to India Equity Partners Fund I, LLC, apart from preferential allotment of 3,00,000 warrants at Rs 326.90 each to Sai Prasad Multitrade Pvt Ltd and 93,00,000 warrants to promoter, promoter group companies, directors a nd relatives.
Source : The Hindu Business Line
18th December, 2007
The board also decided to call an EGM on January 10 to seek approval of the members of the company for preferential allotment of 61,18,000 zero coupon fully convertible debentures of the face value of Rs 326.90 each for cash at par to Citi Venture Capita l Fund and 22,41,000 such debentures to India Equity Partners Fund I, LLC, apart from preferential allotment of 3,00,000 warrants at Rs 326.90 each to Sai Prasad Multitrade Pvt Ltd and 93,00,000 warrants to promoter, promoter group companies, directors a nd relatives.
Source : The Hindu Business Line
18th December, 2007