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BSE SENSEX
74,339.44
+486.50
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Corporate Announcement
Security Code
532661
Company
RANE (MADRAS) LTD.
Exchange Received Time
08/11/2019 17:35:05
Exchange Disseminated Time
08/11/2019 17:35:10
Time Taken
00:00:05
Outcome of Board Meeting |
11/08/19 17:35
The Issue and allotment committee of the board of the Company at its meeting held today November 08, 2019 has inter-alia considered and approved:
1. Subject to the approval of the shareholders, issue of 17,42,160 warrants of face value of Rs.10/- each, for cash, at a price of Rs. 287/- each, convertible into 17,42,160 Equity shares of face value of Rs.10/- each, fully paid up at a price of Rs. 287/- per share, in one or more tranches, to Rane Holdings Limited (belonging to the Promoter and promoter group).
2. Convening of an Extra-Ordinary General Meeting (EGM) of the members on Monday, December 09, 2019 for the aforementioned preferential issue of warrants.
3. The relevant date for the preferential issue shall be Friday, November 08, 2019, being the working day preceding November 09, 2019 (Saturday - weekend), which is thirty days prior to the date of the EGM.
The meeting of the Issue and Allotment Committee of board commenced at 16:30 hrs. and concluded at 17:30 hrs. (IST).
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