Gujarat Sidhee Cement reduces share capital

The Board of Directors of Gujarat Sidhee Cement Ltd at its meeting held on February 08, 2013, reduced the paid up share capital of the Company by 75% from Rs. 144,61,54,080/- consisting of 14,46,15,408 fully paid up Equity Shares of Rs. 10/- each to Rs. 36,15,38,520/- consisting of 3,61,53,852 fully paid up Equity Shares of Rs. 10/- each as approved by the Hon'ble Board for Industrial & Financial Reconstruction (BIFR) vide its order dated December 06, 2012 issued on January 16, 2013.

The Share Allotment Committee of the Board of Directors of the Company at its meeting held on March 07, 2013 approved allotment of 3,61,53,852 equity shares of Rs. 10/- each fully paid up aggregating to Rs. 36,15,38,520/- to eligible shareholders as on record date i.e. February 25, 2013.

Source : Equity Bulls

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