Vaibhav Gems to raise funds in international markets
16 Oct '07
1 min read
Vaibhav Gems Ltd has informed that the Company is proposing to raise funds in the international markets by issuing Global depositary Receipts ("GDRs") up to USD 25 million to the overseas investors to fund its expansion programs.
The Board of directors on August 30, 2007 and the shareholders on September 27, 2007 have approved the issue of GDRs, Convertible warrants and / or any other financial instrument (not being debentures) to the extent of Rs 250 Crores.
Further the Company has informed that, the GDR issue has opened on October 12, 2007.
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