Date:29/12/2005 URL: http://www.thehindubusinessline.com/2005/12/29/stories/2005122902371500.htm

Back ICSA India to hike authorised capital

Our Bureau

Hyderabad , Dec. 28

ICSA India Ltd informed the BSE that the members at the extraordinary general meeting (EGM) today decided to increase the authorised capital from Rs 7.5 crore, divided into 75 lakh equity shares of Rs 10 each, to Rs 10 crore, divided into 1 croreequity shares of Rs 10 each.

ICSA also decided to issue of 13.3 lakh fully convertible warrants (FCWs) at issue price of Rs 400 per warrant, payable 10 per cent (Rs 40) per warrant on application and the balance 90 per cent (Rs 360) within 18 months from the date of allotment on preferential allotment basis.

Out of this, 5 lakh FCWs will be allotted to the promoters and their associates and 8.3 lakh FCWs (as against 8.4 lakh FCWs) to the corporate bodies and others.

The company plans to issue 60,000 options on preferential basis under ESOS/ESOP to its employees.