Online Business

Pyramid Saimira shareholders okay fund raising

Pyramid Saimira Theatre, which is engaged in entertainment business, today said it will raise Rs 500 crore by offering securities to foreign investors, qualified institutional buyers and promoters. - Jaiprakash gets shareholders nod for investment plan - Jet gets shareholders" nod for raising $400 mn - Pyramid Saimira slaps lawsuit on Kamal Haasan - Pyramid to demerge two of its wings; to raise $100 mn - Bajaj Auto Fin to seek shareholders nod for MF biz - Wockhardt shareholders nod selling animal healthcare biz In a filing with the Bombay Stock Exchange (BSE), Pyramid Saimira said its shareholders have approved the proposal to mop up Rs 500 crore. The shareholders passed three special resolutions to this effect through postal ballot with requisite majority, it said. Announcing the result of the postal ballot, it said the shareholders have permitted issuance of securities to the qualified institutional buyers on preferential basis. Another special resolution was passed under Section 81 (1A) of the Companies Act, 1956 for international offering of securities. The shareholders also approved issuing one crore convertible warrants to promoters on preferential basis. Under the international offering, the company proposes to issue securities including foreign currency convertible bonds, global depositary receipts and American depositary receipts, subject to other necessary approvals. The company also proposes to issue nearly one crore equity shares to qualified institutional buyers. Shares of the company closed at Rs 26.50, up 4.95 per cent from the previous close on the BSE.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

Categories
Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business
News of the day
V V: Correcting the fault lines of capitalism
In the long run,” John Maynard Keynes had famously said, “we are all dead.” Keynes may not have been quite dead, but he had lived a ghostly half-life in the corridors of central banks and within the academia for decades. Now with the failures of unbridled capitalism on a global scale, he is back in fashion, along with Marx. John Cassidy, the finance correspondent for the New Yorker has come with How Markets Fail: The Logic of Economic Calamities (Allen Lane/Penguin £25), which draws heavily on Keynes to recount the story of America’s housing boom and the failures of regulators and self-deception of bankers that led to the present financial crisis. The book is a sequel to Cassidy’s earlier book DotCon that dealt with the stupidities of the stock market bubble in the late 1990s, but both deal with one central idea: the belief that society is best served when individuals are left free to pursue their self-interest was “Utopian economics” and led to disaster because of “the crooked timber of humanity”, and the uncertainty that is inherent in any human enterprise.
Popular Articles
fast payday loans

Cost audit should be included in Clause 49: MCA committee
A government-appointed committee has suggested expanding the ambit of Clause 49 on listing of companies specified by market regulator SEBI to include cost audit report.

Can CBEC classification be prospective when it is legally retrospective
A fine legal question has arisen which is whether a board"s circular can make a classification prospective when legally it is retrospective. This has arisen because of a Supreme Court judgement in the case of Jai Fibres Ltd vs CCE, Mumbai — 2007(218)ELT484(SC) interpreting the retrospectivity of classification on the basis of a CBEC Circular No.54/12/91-CX.1 dated 24.7.1992.

© Copyright 2009