Birla Shloka FPO : filed DRHP with SEBI

by khalid on 25/12/2009 · 0 comments

Birla Shloka Edutech Ltd is a Yash Birla Group company, has announced that they filed a Draft Red Herring Prospectus to the market regulator SEBI for launching a FPO of Rs 34.78 crore. Further, the Committee has also decided that the Issue will open on January 11, 2010 and close on January 13, 2010.

Proceeds from the issue will be used for capital expenditure for Turnkey Projects executed by the company under the BOOT model (Rs 15 crore); capital expenditure on upgradation of infrastructure and content development for XL@School (Rs 9.5 crore); funding the proposed M&A activities (Rs 4.5); for meeting the working capital requirements (Rs 2.13 crore) and issue expenses (Rs 3.03 crore).

Birla Shloka share’s CMP is Rs 57.50 on 24th Dec 09.

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