Dhampur Sugar allots CCPS to IFCI, to amalgamate DSM Hitech Products

Dhampur Sugar Mills Ltd has announced that the Board of Directors of the Company at its meeting held on September 12, 2006, has allotted 274430, 0.01% Compulsorily Convertible Preference Shares (CCPS) to IFCI Ltd.

The Board has also approved the scheme of amalgamation of its wholly owned (100%) subsidiary M/s. DSM Hitech Products Ltd with the Company, subject to approval of the Shareholders, Hon'ble High Court and other appropriate approvals.

No new shares shall be issued consequent to amalgamation.

Source : Equity Bulls

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