Tourism Finance Corporation of India Ltd has informed that the Board of Directors of the Company at its meeting held on January 10, 2008, inter alia, has considered and approved the following:
1. The Board of Directors has considered and approved the proposal for new equity capital infusion of upto 3,25,80,900 equity shares of Rs 10 each at a premium comprising of Qualified Institutional Placement and Preferential Allotment of share.
2. The Board of Directors has approved the proposal to issue upto 1,92,83,252 equity shares of Rs 10 each to Qualified Institutional Buyers (QIBs) under the Qualified Institutional Placement Guidelines issued by SEBI at a price to be decided as per SEBI Guidelines (to be rounded off to the next higher rupee), subject to a minimum price of Rs 48/- per share (including a premium of Rs 38/- per share).
3. The Board has approved the proposal to issue upto 1,32,97,648 equity shares of Rs 10 each to the existing Promoter shareholders of the Company on preferential allotment basis at a price to be decided as per SEBI Guidelines (to be rounded off to the next higher rupee), subject to a minimum price of Rs 48/- per equity share (including a premium of Rs 38/- per share). The existing promoter shareholders have expressed their willingness to subscribe to the new equity at a premium which reflects strong confidence in future growth prospects.
4. The Board of Directors has passed the enabling resolution to increase FII aggregate holding limit in the Company upto 49% of paid up equity capital of the Company, subject to shareholders, RBI and all other Government / Statutory approvals, if applicable.
5. Further, the Board has decided to convene the Extra Ordinary General Meeting (EGM) of the shareholders to be held on February 12, 2008 for obtaining the consent of the shareholders in respect of aforesaid matters and has also approved the Notice of the EGM.
1. The Board of Directors has considered and approved the proposal for new equity capital infusion of upto 3,25,80,900 equity shares of Rs 10 each at a premium comprising of Qualified Institutional Placement and Preferential Allotment of share.
2. The Board of Directors has approved the proposal to issue upto 1,92,83,252 equity shares of Rs 10 each to Qualified Institutional Buyers (QIBs) under the Qualified Institutional Placement Guidelines issued by SEBI at a price to be decided as per SEBI Guidelines (to be rounded off to the next higher rupee), subject to a minimum price of Rs 48/- per share (including a premium of Rs 38/- per share).
3. The Board has approved the proposal to issue upto 1,32,97,648 equity shares of Rs 10 each to the existing Promoter shareholders of the Company on preferential allotment basis at a price to be decided as per SEBI Guidelines (to be rounded off to the next higher rupee), subject to a minimum price of Rs 48/- per equity share (including a premium of Rs 38/- per share). The existing promoter shareholders have expressed their willingness to subscribe to the new equity at a premium which reflects strong confidence in future growth prospects.
4. The Board of Directors has passed the enabling resolution to increase FII aggregate holding limit in the Company upto 49% of paid up equity capital of the Company, subject to shareholders, RBI and all other Government / Statutory approvals, if applicable.
5. Further, the Board has decided to convene the Extra Ordinary General Meeting (EGM) of the shareholders to be held on February 12, 2008 for obtaining the consent of the shareholders in respect of aforesaid matters and has also approved the Notice of the EGM.
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