Asian Electronics to issue shares to Institutional Buyers

Asian Electronics Ltd has announced that the Bid Closing Date pursuant to the proposed issue of equity shares of the Company to Qualified Institutional Buyers is October 11, 2006.

Further the Sub committee of the Board of Directors of the Company at its meeting held on October 12, 2006, has allocated 21,00,000 Equity Shares of Rs 10/- each at an Issue Price of Rs 460/- per Equity Share to Qualified Institutional Buyers in accordance with Chapter XIIIA of the Securities and Exchange Board of India (Disclosures and Investor Protection) Guidelines, 2000 as amended.

Source : Equity Bulls

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