Sagar Cements allots 1000000 shares on a Preferential basis

Sagar Cements Ltd has announced that pursuant to the proposal approved by the shareholders at their Extraordinary General Meeting held on July 23, 2008, to issue 10,00,000 equity shares of Rs 10/- each at a price of Rs 700/- per share on preferential basis to M/s. Vicat S.A., France and or to any of its subsidiaries or affiliates, the Board of Directors of the Company has, on August 06, 2008, allotted 10,00,000 equity shares of Rs 10/- each at a price of Rs 700/- per share to M/s. Parficim S.A.S., France, a subsidiary of M/s. Vicat S.A., France.

With the above allotment, the paid-up equity share capital of the Company now stands increased to Rs 15,00,23,000/- consisting of 1,50,02,300 equity shares of Rs 10/- each.

Source : Equity Bulls

Keywords