Alicon Castalloy has informed that the Board of Directors in its meeting held today, 2nd December, 2020, has given its nod to raise funds up to Rs 100 crores by issue of further equity capital by way of a qualified institutions placement (QIP), in one or more tranches, which will be issued to qualified institutional buyers. For this purpose, the Board has convened an Extra-Ordinary General Meeting (EGM) of the shareholders of the Company on December 30, 2020 for seeking their necessary approvals. The said EGM will be held through Video Conference/ Other Audio Visual Means. Further, the Board of Directors took note of the proposal that equity shares may be issued to promoters, foreign collaborators, HNIs and other investors on a preferential basis at a later stage.
The above information is a part of company’s filings submitted to BSE.
