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Hotel Leelaventure Ltd Announces Approval For Issue Of Equity Shares; Enabling Resolution For Raising Funds Upto INR10 Billion And Sale Of Hyderabad Land

Tuesday, 13 Aug 2013 06:09am EDT 

Hotel Leelaventure Ltd announced that the Board of Directors of the Company at its meeting held on August 13, 2013, inter alia, have considered and approved the following: The Board has approved, subject to the consent of the Members at the ensuing Annual General Meeting scheduled to be held on September 20, 2013, allotment of equity shares on Preferential Basis to a Promoter Group Company for an aggregate value not exceeding INR1 billion, including premium; The Board has accorded its approval for an enabling resolution for raising of funds upto INR10 billion through issue of equity shares / convertible debentures / GDRs / ADRs and/or such other securities either through preferential issue and / or qualified institutional placement and / or private placement, etc. in one or more tranches at an appropriate time; The Board has accorded its consent by way of an enabling resolution for sale of land owned by the Company in Hyderabad. 

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0.15 +0.64%
12:26am EST