Educomp authorises BoD to borrow Rs 1,000 cr and raise $25mln

New Delhi, Aug 25 (UNI) Educomp Solutions Ltd today said its board has been authorised to borrow Rs 1,000 crore as well as to raise up 25 million dollars through issue of securities.

''The members have authorised the BoD to borrow money upto the limits of Rs 1000 crore, subject to provisions and approvals,'' a company statement said.

The funds will be raised from domestic and international markets through issue of equity shares, Convertible Debentures, Foreign Currency Convertible Bonds (FCCBs), Euro Issue and other securities aggregating upto 25 million dollars.

At the Annual General Meeting the members also adopted the audited annual accounts for the financial year 2005-06 and declared a dividend of Rs 1.50 per equity share.

Last month, the company launched a 24x7 math-help programme, Mathguru.com, designed to help students solve problems as per their curriculum, text books or syllabus.

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