Markets News - Visu International to raise funds

Sep 5, 2007

Visu International to raise funds

The members of Visu International has decided to issue and allot, in the course of international offerings in one or more foreign markets, in the form / GDRs or equity shares / any securities convertible into equity shares at the option of the company / holder of the securities representing either equity shares or convertible securities representing either equity shares or convertible into equity shares subscribed in foreign currency to foreign investors upto an amount of US $ 20 million and an aggregate number equity shares or such receipts or instruments equivalent to 50 million equity shares of Rs 10 each including the over allotment option.

Further, the members have decided to increase the authorized share capital of the company from Rs 52,00,00,000 to Rs 100,00,00,000.

This was decided at the extra ordinary general meeting held on 31 August 2007.