|
| Exchange Received Time 14/04/2018 08:46:48 Exchange Disseminated Time 14/04/2018 08:46:57 Time Taken 00:00:09 | With reference to the disclosure made on 1st March,2018 regarding proposed preferential offer of Rs.405 Crores, please be informed that the Board of Directors at its meeting held on April 14, 2018 has modified the aforesaid proposal and has approved the proposal to take consent of the members for issue and allotment of securities (equity and/or warrants having options to subscribe to equity shares) for an aggregate equity subscription amount of Rs.369.21 Crore in one or more tranches to a constituent of the promoters' group viz. Welspun Steel Ltd (Rs.197.06 Crores) and to independent financial investors (for Rs.172.15 Crores) by way of private placement.
The Board meeting commenced at 8.00 am and concluded at 8.30 am.
Kindly take the same on record. |
|
|