Sunday, Feb 13, 2005
Sunday, Feb 13, 2005 |
| Business | ||||
|
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts: Classifieds | Employment | Business
By Our Special Correspondent
NEW DELHI, FEB. 12. LML today announced a major restructuring exercise for raising of Rs. 200 crores from the overseas and domestic markets besides issuing preferential shares to banks and financial institutions. The company plans to broadbase its product range as part of its new turnaround strategy. While approving the plan, the board of directors of the company approved amendments to Articles of Association to increase the authorised share capital from Rs. 60 crores to Rs. 250 crores. It was also announced that the company would be issuing fresh equity shares to overseas investors, warrants and by an overseas public offer of foreign currency convertible bonds (FCCBs) to raise a total of Rs. 120 crores, while mobilising around Rs. 60-80 crores through fresh working capital faculties. As part of the restructuring package, the company would issue preference and equity capital (on a preferential basis) to its existing lenders (banks and financial institutions) for Rs. 120 crores, as a part of the negotiated settlement proposed by them, a company announcement said.
Printer friendly
page
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
