BSES to raise $125 m through securities
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MUMBAI, June 15
BSES Ltd is convening a special meeting of the board of directors on Wednesday to consider raising of funds, aggregating to $125 millions, through issue of securities.
In a notice to the BSE on Tuesday, the company said, ''we hereby notify that a special meeting of the board of directors of the company will be held on Wednesday, June 16, 1999, to consider, inter alia, raising of funds through issue of securities linked to or convertible into equity shares/preference shares or any instrument or securities representing convertible securities such as Global Depository Receipts and/or American Depository Receipts and/or convertible bonds and/or warrants convertible into equity shares/preference shares to be subscribed by foreign investors/resident or non-resident Indians or incorporated bodies and/or individuals or otherwise.''
According to Mr. R.V. Shahi, Chairman and Managing Director, BSES Ltd, ''this will be just an enabling clause and money would be raised depending on the needs of the company.''
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