Mumbai: Bombay Dyeing on Aug 28, said it has got shareholders clearance to mop up about Rs 300 crore through issue of warrants, representing up to five per cent stake in the company, on preferential basis to its promoter company Bombay Burmah Trading Corporation Ltd (BBTCL). Bombay Dyeing & Manufacturing Company has got shareholders clearance to issue and allot up to 19.30 lakh warrants convertible into equity share of the company any time within 18 months from the date of issue in one or more tranches to BBTCL. The company will allot shares at a price arrived at by taking the average of the weekly high and low of the closing prices of the company''s shares quoted on the National Stock Exchange during the six months or two weeks preceding July 28. The promoter group company, had also asked shareholders approval via a postal ballot for infusing the amount to acquire the stake.
Source : www.indian-commodity.com
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