The board of directors of Samtel Color, which met today, has approved proposals to raise nearly Rs 45 crore by way of convertible warrants to promoters and issuing preference shares.According to a release issued to the BSE today, the board approved a plan to issue 22 lakh warrants to the promoters at Rs 90.18 per warrant. The warrants will be converted into 22 lakh equity shares of Rs 10 each at a premium of Rs 80.18 within 18 months.The board also approved a proposal for private placement of 9.5% redeemable preference shares.The meeting approved amendment/alteration of MoA for increasing the authorised share capital from Rs 75 crore to Rs 100 crore by adding 25 lakh redeemable preference shares of Rs 100/- each.
