Held on 11 July 2016
Shriram EPC announced that the Board of Directors of the Company at its meeting held on 11 July 2016, has transacted the following:1. Conversion of the Working Capital Term loan of the CDR Lenders into equity shares of the Company to the maximum extent of Rs. 1280 crore, subject to the shareholders and other regulatory approvals, at a price to be determined as per regulations.
2. Preferential issue to the Holding Company - SVL (Erstwhile Shriram Industrial Holdings) of Rs. 265 crore subject to shareholders and other regulatory approvals, at a price to be determined as per regulations.
3. Increase of Authorised Share Capital and Approval for Alteration of Memorandum of Association of the Company
4. To seek shareholders approvals for the above.
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