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Walchandnagar Industries Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 04, 2008, have approved by way of special resolution the following items:

1. Issue of equity shares / equity linked securities / securities convertible into equity (”securities”) to Qualified Institutional Buyers as defined in and in the terms of Chapter XIII-A of SEBI (Disclosure & Investor Protection) Guidelines, 2000 on the basis of placement document(s), for an aggregate amount which shall not exceed Rs 550 Crores (Rupees Five Hundred Fifty Crores) in one or more tranches.

2. Preferential issue of 5,25,000 Convertible Warrants to the Promoters / Promoters Group at a price determined as per SEBI (Disclosure & Investor Protection) Guidelines, 2000.

Tags: Walchandnagar Industries

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