Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  Videocon to raise up to Rs5,000 crore equity
BackBack

Videocon to raise up to Rs5,000 crore equity

The board also passed a resolution authorizing directors to borrow up to Rs75,000 crore

At 9:50am, shares of Videocon were down 0.03% at `167.20, while the benchmark Sensex was at 25,572.44 points, up 0.36%.Premium
At 9:50am, shares of Videocon were down 0.03% at `167.20, while the benchmark Sensex was at 25,572.44 points, up 0.36%.

Mumbai: Videocon Industries Ltd on Monday informed the stock exchanges that its board had passed a special resolution authorizing its directors to issue equity shares or any other convertible instrument to raise up to 5,000 crore.

“A special resolution, authorizing the board of directors of the company, for issue of equity shares or any other convertible instruments for an amount not exceeding 5,000 crore, at an appropriate time, by way of follow-on issue, private placement basis, qualified institutional placement basis, American depository receipts (adrs), global depository receipts (gdrs), foreign currency convertible bonds (fccbs) or any other mode or mechanism, subject to necessary approval and consent," the company said in a statement on BSE.

Another resolution authorizing the board of the company to borrow up to 75,000 crore was also passed. Also, the board of directors was allowed “to sell, lease, mortgage, or otherwise dispose off the whole or substantially the whole of undertaking of the company up to an amount not exceeding 75,000 crore," the statement said.

At 9:50am, shares of Videocon were down 0.03% at 167.20, while the benchmark Sensex was at 25,572.44 points, up 0.36%.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 04 Aug 2014, 01:02 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie