Bombay Rayon Fashions has informed that the Board of Directors of the Company at its meeting held on May 02, 2016, has approved the issue up to 56,321,428 Equity shares of face value of Rs 10 each at a price of Rs 165.88 per share aggregating to Rs 9,342,598,477 on preferential basis to the CDR lenders on conversion of Working Capital Term Loan (WCTL) and Funded Interest Term Loan (FITL) into equity share capital subject to the approval of the Members of the Company by passing special resolution which shall be in supersession to the earlier resolution passed by the Members at their Extra-Ordinary General Meeting held on April 27, 2016; calling and convening Extra-Ordinary General Meeting of the Company at shorter notice for seeking approval of the Members for issue up to 56,321,428 Equity shares of face value of Rs 10 each at a price of Rs 165.88 per share aggregating to Rs 9,342,598,477 on Preferential basis to the CDR lenders on conversion of WCTL and FITL into equity share capital.
The above information is a part of company’s filings submitted to BSE.
