Teledata to raise funds from overseas

By agencies   |   Wednesday, 27 July 2005, 07:00 Hrs
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NEW DELHI: Teledata Informatics Ltd on Wednesday said that it would issue global depository receipts (GDRs) or foreign currency convertible bonds (FCCBs) of up to $150 million.

The shareholders at the AGM have approved the issue of GDRs, FCCBs or any other convertible securities for an aggregate amount not exceeding $150 million with a green shoe option of 15 percent, the company informed the Bombay Stock Exchange.

The AGM has also approved interim dividend of 15 percent declared during the year as final dividend for the financial year 2004-05, it said.

Increase of authorized capital from Rs 1 billion to Rs 2 hbillion has also been approved, it said.

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