Temptation Foods to raise Rs 916 cr
Temptation Foods on Wednesday said it will raise over Rs 916 crore through issue of securities in domestic and international markets.
By PTI |
MUMBAI: Temptation Foods on Wednesday said it will raise over Rs 916 crore through issue of securities in domestic and international markets.
The board of directors of the company at its meeting recently approved raising of up to $200 million(over Rs 820 crore) through the issue of foreign currency convertible bonds (FCCBs), global depository receipts (GDRs), equity shares or other securities to people other than promoters.
Besides this, the company would raise Rs 96.37 crore through issue of 29.25 lakh convertible warrants to Venture Business Advisers Pvt and 35 lakh shares to persons other than the promoters on preferential basis at Rs 150 or at a higher value as decided in accordance with SEBI guidelines.
An Extraordinary General Meeting (EGM) of the shareholders would be convened on September 17, for obtaining shareholders approval for the aforesaid proposals, Temptation Foods said in a filing to the Bombay Stock Exchange.
Temptation Foods is an exporter of processed fruits and vegetables.
Shares of Temptation were last trading at Rs 147, up 5 per cent, on the BSE.
The board of directors of the company at its meeting recently approved raising of up to $200 million(over Rs 820 crore) through the issue of foreign currency convertible bonds (FCCBs), global depository receipts (GDRs), equity shares or other securities to people other than promoters.
Besides this, the company would raise Rs 96.37 crore through issue of 29.25 lakh convertible warrants to Venture Business Advisers Pvt and 35 lakh shares to persons other than the promoters on preferential basis at Rs 150 or at a higher value as decided in accordance with SEBI guidelines.
An Extraordinary General Meeting (EGM) of the shareholders would be convened on September 17, for obtaining shareholders approval for the aforesaid proposals, Temptation Foods said in a filing to the Bombay Stock Exchange.
Temptation Foods is an exporter of processed fruits and vegetables.
Shares of Temptation were last trading at Rs 147, up 5 per cent, on the BSE.
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