Bengal Tea & Fabrics to issue rights equity shares at Rs.20

Bengal Tea & Fabrics Ltd has announced that the Board of Directors of the Company at its meeting held on September 21, 2006, has decided to issue on rights basis 30,01,995 equity shares of Rs 10/- each, in the share capital of the Company, for cash at a premium of Rs 10/- per share aggregating to Rs 600.40 Lacs to the shareholders of the Company in the proportion of one equity share for every two equity shares held on the record date.

Further the Company has informed that, the Board could not fix the record date as the final observations from SEBI on draft Letter of Offer are yet to be received.

Source : Equity Bulls

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