Hikal to issue 50 Lakhs CCRPS

Hikal Ltd has announced that the Board of Directors of the Company at its meeting held on October 18, 2007, has discussed and approved the issue of 50 Lacs (Fifty Lacs) Convertible Cumulative Redeemable Preference Shares of Rs 100 (Rupees One Hundred) each at par aggregating to Rs 50 Crores (Rupees Fifty Crore)) with the option to convert it into the Equity Shares of the Company on private placement basis, subject to the approval of shareholders.

Source : Equity Bulls

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