Monday, November 20, 2006

Taneja Aerospace issues equity shares to Merrill Lynch

At its meeting held on November 20, 2006, the board of directors of Taneja Aerospace & Aviation has approved the issue of 23,50,000 equity shares to Merrill Lynch Capital Markets Espana SA SV on preferential basis at a price of Rs 155 per equity share (including a premium of Rs 150 per share). The post shareholding of the allottee would be 9.43%.
The board of the company will call an extra ordinary general meeting of the members on December 18, 2006 to approve the issue of equity shares on preferential basis.
On November 15, 2006, the board of the company has decided to raise upto USD 20 million.
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