Lancor Holdings, a realty major, has approved the further issue of securities up to a value of Rs 75 crore with domestic and international markets through various instruments. The decision ws taken in its board meeting yesterday.
The instruments will include issuances of equity shares, warrants, convertible and non-convertible debentures under qualified institutional placements, private equity.
Other forms of capital raising instruments are also approved by the board which may be determined by a committee of directors consisting of the managing director and one other director.
The company has further authorised the committee to take all steps for the appointment of merchant bankers, lead managers to the issue, legal advisors, chartered accountants and auditors for the purpose of conducting the various processes.