Fortis Financial to issue shares on rights basis

Fortis Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on September 16, 2006, has approved the following:

1. The offer, issue and allot 1,34,65,888 Equity Shares of Rs 10/- for cash at par, on Rights basis, to the Equity Shareholders whose names appear on the Register of Members as on the Record Date to be fixed by the Board of Directors for the purpose. The Board also constituted a Rights Issue Committee for the purpose.

Source : Equity Bulls

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