Shri Lakshmi Cotsyn Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 08, 2011, inter alia, have considered and approved the following:-
1. Raising of equity by way of QIP, PE, PP (Private Placement), FCCB, Warrants, GDR, ADR. Right issue etc. to meet out the cost of expansion projects i.e. Technical Textiles, Denim, Home-furnishing and Spinning projects.
2. Increase in the Borrowing Power of the Company pursuant to Section 293 (1) (d) of the Companies Act, 1956 not exceeding the limit of Rs. 4000 Crores.
3. Fixed the date of Extra Ordinary General Meeting on May 05, 2011 for obtaining the approval of shareholders for the aforesaid matters.
Sensex
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Sunday, April 10, 2011
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