The media had reports that Sunil Hitech Engr. Ltd may consider a private placement of shares to institutional investors at a premium to the market price.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Sunil Hitech Engr. Ltd has vide its letter inter-alia stated,"The Company has passed a resolution in last Annual General Meeting held on 20th September, 2007, that the Company proposes to raise an amount of Rs. 200 Crores by equity/borrowed funds through ADR/GDR/FCCB & or qualified institutional placement. However, the Board has yet to decide the route and quantum of the issue". -- www.nseindia.com
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