Zenith Birla Updates on forthcoming Follow-on Public Offer of Equity Shares

With reference to the earlier announcement dated October 04, 2006 regarding the company's forthcoming Follow-on Public Offer (FPO) of 2,38,18,182 Equity shares of Rs 10/- each at a price of Rs 55/- per share, which will open for subscription on October 16, 2006 and closes on October 20, 2006, Zenith Birla India Ltd has announced that the Company has kept reservation for the existing shareholders of the Company as well as its following Listed Group companies as follows:

a. 19,27,272 Equity Shares of Rs 10/- each for cash at a price of Rs 55/- per share to the Existing Shareholders of the Company on competitive basis.

b. 19,27,272 Equity Shares of Rs 10/- each for cash at a price of Rs 55/- per share to the Existing Shareholders of the following Listed Group Companies on competitive basis. These companies are Birla Power Solutions Ltd., Dagger Forst Tools Ltd., Birla Kennametal Ltd, Birla Transasia Carpets Ltd., Shloka Infotech Ltd and Birla Leasing & Infrastructure Ltd.

Further the company has informed that for the purpose of determining the eligibility to participate under the abovementioned categories, the Company and the respective group companies have kept October 06, 2006 as the Specified Date. Necessary application forms shall be dispatched from October 09, 2006 onwards.

Source : Equity Bulls

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