Heidelberg Cement India has informed the stock exchanges today that its shareholders have approved the company's plans to raise upto Rs 1,200 crore. This will be via debt and will be secured against the assets of the company, it said. Heidelberg had sought approval of shareholders for both fund-raising and securing of its loans via a postal ballot, which was passed unanimously, it said.
Shareholders have also approved a shift in the company's registered office from Ammasandra, Karnataka to Gurgaon in Haryana, it said. This is subject to confirmation of the Company Law Board, it added.
The company's board of directors, meanwhile, passed a resolution today to exercise the call option for redemption of cumulative redeemable preference shares amounting to Rs 13.49 crore, it said. Accumulated dividend from January 1 to May 11, 2010 will also be paid as interim dividend alongwith the redemption proceeds, it added.