On September 19, 2024, EMS Limited (formerly EMS Infracon Pvt Ltd) held a pivotal Board meeting to outline key financial strategies. Here are the main highlights from the meeting:
- Fundraising Initiative: The Board approved the issuance of equity shares with a face value of ₹10 each, targeting a total amount of up to ₹400 Crores. This will be executed through a Qualified Institutional Placement (QIP), aimed at enhancing the company's capital base by attracting institutional investors.
- Postal Ballot for Shareholder Approval: To secure necessary approvals for the equity issuance, the Board sanctioned the Notice of Postal Ballot. The cut-off date for dispatching this notice and determining E-Voting rights is set for September 13, 2024.
- Formation of QIP Committee: A dedicated QIP Committee was constituted to manage all aspects related to the fundraising process, ensuring compliance with regulatory requirements.
These steps reflect EMS Limited's commitment to growth and transparency while adhering to the Securities and Exchange Board of India (SEBI) regulations. Stakeholders are encouraged to stay updated as the company progresses with its fundraising efforts.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/1623adb0-459c-4932-8e26-1adff0249d1e.pdf
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