At meeting held on 11 April 2014
Shilpa Medicare announced that the Board of Directors has decided at a meeting held on 11 April 2014, to raise funds upto Rs 75 crore by issuing equity shares on preferential basis to FIIs/ FCBs/any Other Investor at the price calculated as per the regulation 76 of Chapter VII of the SEBI (ICDR) Regulations, 2009 and in accordance with Regulations of Chapter VII of the SEBI (ICDR) Regulations, 2009 and section 42 of the Companies Act, 2013 and Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014, and subject to the approval of shareholders, Stock Exchanges, Central Government and other regulatory authorities, if necessary.The Board also proposed to increase the limit for FIIs' holding up to 30% from the existing general limit of 24% as prescribed under the FDI Policy subject to the approval of shareholders and prior intimation to Reserve Bank of India.
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