Kalindee Rail to raise $ 70 lakh via GDRs/ ADRs or FCCBs

New Delhi, Jan 14 (UNI) Infrastructure company Kalindee Rail Nirman Engineers Ltd will raise additional funds upto an amount of 70,00,000 dollars either directly or through GDRs, ADRs or FCCBs.

The fund raising will be together with any green shoe option to Foreign and/ or Indian Institutional investor, companies, individuals or any other people, subject to necessary provisions and approvals.

The company's Board has also to decided to issue and allot upto 15,70,829 equity shares of Rs 10 each, fully paid up at a premium of Rs 146.50 per equity share aggregating to Rs 24.58 crore to AMIF I Ltd on a preferential allotment basis.

Following approval of its Board of Directors, it will also issue and allot upto 1,55,000 equity shares and 2,30,000 equity warrants to the promoters group at price of Rs 156.50 per share inclusive of a premium of Rs 146.50 per share on preferential allotment basis, aggregating to Rs 6.02 crore, instead of 2,00,000 equity shares and 3,00,000 equity warrants as proposed, the company said in a statement.

UNI