IID Forgings to invest 51% on equtiy capital of JV company

With reference to the earlier announcement regarding the proceedings of the Board Meeting held on July 27, 2006 where in it has been reported that the Board has approved investment in a joint venture with BDP International Inc USA and Genco I Inc USA for foray into retail distribution activities, IID Forgings Ltd has announced that a Joint Venture agreement with BDP International Inc USA and Genco I Inc USA has been executed on October 07, 2006 and the Company will be investing 51% on the Equity Capital of the Joint Venture of the Company to be incorporated with authorized capital of Rs 200 lacs in terms of the approval of the Board.

Source : Equity Bulls

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