Birla Vxl to issue shares at a ratio of 4:7 on rights basis

Birla Vxl Limited has announced that the Board of Directors at their meeting held on July 14, 2006 pursuant to the Special Resolution passed by the Members of the Company in the Annual General Meeting held on July 10, 2006 have decided to issue 2,49,96,964 Equity Shares of Rs. 10/- each aggregating Rs. 2499.70 lacs on Rights basis at par in the ratio of 4 Equity Shares for every 7 Equity Shares held on a Record Date to be finalised and fixed on obtaining applicable approvals / clearances relating to the proposed Rights Issue from all the regulatory authroities , including SEBI, Bombay Stock Exchange Ltd., and National Stock Exchange of India Ltd.

Source : Equity Bulls

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