Construction firm Omaxe Ltd today said it has approved raising of additional long-term funds through further issuance of securities in the company — as Special Resolution.
The shareholders of the company took a decision to this effect at its extra ordinary general meeting on Monday, Omaxe said in a filing with the Bombay Stock Exchange.
The shareholders also approved an increase in share capital of the firm and consequential amendments in the memorandum of Association of the Company, it said.
The EGM also resolved to increase the limit of total holding by all registered foreign institutional investors from existing 24 per cent to 100 per cent— as a special resolution.
The shareholders gave their nod to amendment in the Articles of Association of the Company — as special resolution, it said.
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