I am having 200 shares of Orbit Corporation at average price of Rs. 180 shall i retain it or not please help me
Orbit Corporation outcome of EGM was realsed
i don't know the EGM result is positive or not
1. To raise additional long term funds through further issuance of securities of the Company, for an amount not exceeding Rs 500 Crores, either through preferential issue and / or Qualified Institutions Placement and / or private placement.
2. To Issue warrants to the Promoters of the Company, on preferential basis.
3. To Issue Shares under the Employee Stock Option Scheme, 2009 to the eligible employees of the Company and extend the benefits to the subsidiary and holding Companies (now or hereinafter, subject to the necessary compliances).
4. To increase the limit of 24% for holding by Foreign Institutional Investors (FII) upto 100%, subject to the prior approval of Reserve Bank of India.
Please hold the shares.It has learnt that now orbit corporation is looking for just 200 crores through QIP ...more