The board of directors of Religare Enterprises on Thursday approved raising funds not exceeding ₹1,000 crore, through issuance of equity shares or equity-linked securities to eligible investors through one or more modes of issuance. The fund-raising plans, however, would be subject to approval by the members of the company at its forthcoming Annual General Meeting, the company said. Shares of Religare closed at ₹325, down a little over 1 per cent on the BSE.
The board of directors of EID Parry India has approved a scheme of amalgamation for merging Parry Phytoremedies Pvt Ltd with itself. Parry Phytoremedies is a wholly owned subsidiary of the company. As the entire equity share capital of Parry Phyto is being held by EID Parry, there will be no issue of equity shares by the parent company pursuant to the amalgamation. The stock of EID Parry slipped 1.35 per cent at ₹193.75 on the NSE.
A meeting of the preference share committee of the board of Emami Paper Mills will meet on August 1 to consider an issue of 8 per cent cumulative redeemable non-convertible preference shares of ₹100 each at a premium of ₹300 to the promoters on preferential basis. The committee will also consider the allotment of preference shares to the promoters on preferential basis. Shares of Emami Paper Mills plunged 4.45 per cent at ₹39.90 on the BSE.
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