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Equity News
Jan 11 2008 9:59AM
Tourism Finance Corporation of India to increase FIIs limit to 49%
The board of Tourism Finance Corporation of India has considered and approved the proposal for new equity capital infusion of upto 3,25,80,900 equity shares of Rs 10 each at a premium comprising of qualified institutional placement and preferential allotment of share.

The board has approved the proposal to issue upto 1,92,83,252 equity shares of Rs 10 each to QIBs under the qualified institutional placement.

The board has approved the proposal to issue upto 1,32,97,648 equity shares of Rs 10 each to the existing promoter shareholders of the company on preferential allotment basis.

The board has passed the enabling resolution to increase FII aggregate holding limit in the company upto 49% of paid up equity capital of the company.

Further, the board has decided to convene extra ordinary general meeting (EGM) of the shareholders on 12 February 2008.

This was approved at the board meeting held on 10 January 2008.

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