Confidence Petroleum to raise Rs 121 cr in overseas mkt
Confidence Petroleum India Ltd, provider of LPG bottling services, on Tuesday said it will raise Rs 121.02 crore through issue of securities in the overseas markets.
By PTI |
MUMBAI: Confidence Petroleum India Ltd, provider of LPG bottling services, on Tuesday said it will raise Rs 121.02 crore through issue of securities in the overseas markets.
The board of directors has given its consent to raise about Rs 121.02 crore through issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts (GDRs) or any other securities convertible into equity shares, Confidence Petroleum said in a communique to the Bombay Stock Exchange (BSE).
The board also decided to increase the borrowing powers of the company to Rs 250 crore, it said.
The company would create five crore equity shares of Re 1 each to increase authorised capital to Rs 26 crore from Rs 21 crore.
An Extra-ordinary General Meeting to look into the issues would be held on August 17.
Shares of Confidence Petroleum jumped 4.95 per cent and were trading at Rs 16.55 on the BSE.
The board of directors has given its consent to raise about Rs 121.02 crore through issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts (GDRs) or any other securities convertible into equity shares, Confidence Petroleum said in a communique to the Bombay Stock Exchange (BSE).
The board also decided to increase the borrowing powers of the company to Rs 250 crore, it said.
The company would create five crore equity shares of Re 1 each to increase authorised capital to Rs 26 crore from Rs 21 crore.
An Extra-ordinary General Meeting to look into the issues would be held on August 17.
Shares of Confidence Petroleum jumped 4.95 per cent and were trading at Rs 16.55 on the BSE.
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