Hinduja Foundries has informed that the Board of Directors of the Company at its meeting held on January 13, 2016, have resolved to raise funds for the operation of the Company up to Rs 400 Crores by way of issue of Securities. The Board resolved and authorized the finance committee, being a committee of the directors for the purpose of deciding the details of the issue of Securities. The decision of the finance committee shall be notified to the stock exchange immediately on conclusion of the meeting of the committee of Directors. The approval of shareholders for the above will be obtained through the Postal Ballot Process.
The above information is a part of company’s filings submitted to BSE.
