Emco to raise $50 mn through FCCBs, GDRs
Transformer manufacturer Emco Ltd on Friday said it has got shareholders approval for raising $50 million through the issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts (GDRs) or other securities from domestic and inte...
By PTI |
MUMBAI: Transformer manufacturer Emco Ltd on Friday said it has got shareholders approval for raising $50 million through the issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts (GDRs) or other securities from domestic and international markets.
The shareholders, at a meeting on Friday, approved the board's proposal to borrow up to Rs 1,000 crore, the company informed the Bombay Stock Exchange.
The company also declared a dividend of Rs 3 on shares of Rs 10 each (30 per cent) for the financial year 2005-06, it added.
The shares of the company were trading at Rs 520, down 1.96 per cent at the BSE.
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