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Board of Transport Corporation of India approves issue of equity shares to IDFC Premier Equity Fund

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Capital Market
Last Updated : Jan 05 2015 | 11:18 PM IST

At meeting held on 03 January 2015

Transport Corporation of India announced that the Board of Directors of the Company at its meeting held on 03 January 2015, interalia, consider the fund raising plans of the company through issuance of equity shares via any possible conducive route including QIP / preferential placement / PE Funds etc. as per applicable SEBI Guidelines.

1. Issue of upto 24,00,000 Equity Shares of face value of Rs. 2/- each at a price of Rs. 249/- per Equity Share in cash aggregating to Rs. 59,76,00,000/- to IDFC Premier Equity Fund in accordance with Sections 42 and 62(1)(c) and all other applicable provisions, if any, of the Companies Act, 2013 & rules made thereunder & the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, (the "ICDR Regulations").

2. Since the above resolution shall be subject to approval of the shareholders, an Extra Ordinary General Meeting of the shareholders of the Company will be held on 29 January 2015 seeking approval of shareholders by way of Special Resolution.

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First Published: Jan 05 2015 | 4:36 PM IST

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