Gujarat NRE Coke to raise Rs300 crore
22 Sep 2009
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Gujarat NRE Coke Ltd said today (Tuesday) that it is planning to raise Rs300 crore through the issue of securities that includes foreign currency convertible bonds. Its board will meet on 24 September to consider the issue.
The company's board, in a meeting on 19 September, recommended a bonus issue of 1 'B' share, with lower voting rights, for every 10 shares held in the company. Every 100 bonus shares will carry 1 voting right, compared with one voting right for every share, it said in a filing to the Bombay Stock Exchange (BSE).
Further, the board would also consider the issue of 25 million convertible warrants to promoters or promoter group companies, the filing added.
