Empower Industries to increase authorised capital, issue shares on rights basis

Empower Industries India Ltd has announced that the Board of Directors of the Company at its meeting held on August 31, 2006, inter alia, has approved the following:

1. The Authorised Capital be increased to Rs 2 crore consisting of Equity Shares having face vale of Rs 1/- each.

2. The Equity Shares to be offered in the Rights issue are in the Ratio of 2:5 i.e. for every 5 shares held 2 shares are being offered on Right basis at a face value of Rs 1/- at a premium of Rs 1.25 each.

Source : Equity Bulls

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