Hinduja Foundries has informed that The Committee of Board of Directors (‘Finance Committee’) at their meeting held on January 25, 2016 recommended to the Board of Directors to issue Global Depository Receipts (GDRs) to promoters, promoter group, group company (ies) and any other entity which is a subsidiary, associate of its parent, group companies or any other entity eligible to invest in GDR for an amount up to Rs 400 Crores. The Board of Directors at their meeting (which was held immediately on conclusion of the Finance Committee meeting) discussed deliberated and approved the issue of GDRs to promoters, promoter group company (ies) and any other entity which is a subsidiary, associate of its parent, group companies or any other entity eligible to invest in GDR for an amount up to Rs 400 Crores.
The above information is a part of company’s filings submitted to BSE.
