NEW DELHI: Arvind SmartSpaces plans to raise Rs 400 crore by way of issue of equity shares through inter alia, preferential issue, qualified institutions placements, the company informed in a BSE filing.
The board of directors of the company approved raising of funds by way of one or more public and/or private offerings and/or on a preferential allotment basis and/or a qualified institutions placement (QIP) to qualified institutional buyers, by way of an issue of equity shares or by way of an issue of any instrument or security including convertible/ redeemable preference shares, fully/partially convertible debentures or by way of a composite issue of non-convertible debentures, issue of warrants for an amount not exceeding Rs 400 crore.
The board also approved increase in authorised share capital of the company from Rs 50 crore divided into five crore equity shares of Rs 10 each to Rs 70 crore divided into seven crore equity shares of Rs 10 each.
