NEW DELHI Aug 10 Debt-laden Indian telecoms
carrier Reliance Communications is seeking
shareholders' approval to increase its authorised share capital
to 25 billion rupees ($452 million) from 15 billion rupees
currently, it said in a notice for its annual general meeting.
"The company, in order to meet its growth objectives and to
strengthen its financial position, may be required to generate
long term resources by issuing securities," Reliance
"It is therefore deemed appropriate to increase the
authorised share capital of the company."
The company will also seek approval of shareholders to issue
securities to qualified institutional buyers in its annual
general meeting, scheduled for Sept. 4.
It sought similar approvals for securities issues to funds
in the past two fiscal years, but has not sold any share.
($1 = 55.3250 Indian rupees)
(Reporting by Devidutta Tripathy; Editing by Sunil Nair)