Raasi Refractories to convert loan into equity shares

Raasi Refractories Ltd has announced that the Board of Directors of the Company at its meeting held on September 17, 2008, has decided to Convert the outstanding funded interest term loan of Rs 12,11,360 of Industrial Finance Corporation of India (IFCI) into 1,21,136 Equity Shares having face value of Rs 10/- each at Par in accordance with the Provisions of Section 81(3) of the Companies Act, 1956.

Source : Equity Bulls

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