Vijay Textiles to expand, open third showroom in Hyderabad

Vijay Textiles Ltd has announced that the Board of Directors of the Company at its meeting held on April 06, 2007, inter alia, has considered & approved the following:

1. For purchase of Land admeasuring 17.01 acres at cost of Rs 30.00 Lakhs per acres for the total consideration of Rs 5.10 Crores at Rajapoor Village, Mahaboobnagar Dist., for expansion of the project by adding facilities for manufacturing of wider width fabrics.

2. For setting up third show room at Kukatpally, Hyderabad.

3. Allotment of 52,69,000 Equity Shares of Re 1/- each at a price of Rs 12/- per share (inclusive of premium of Rs 11/- per share) to the following allottees by exercising the right of conversion of warrants issued to them @ Rs 12/- per warrant on preferential basis.

a. Shri. Susheel Kumar Gupta: 47,14,000 Equity Shares
b. Shri. Shashikala Gupta: 5,55,000 Equity Shares

Source : Equity Bulls

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