Cera Sanitaryware to increase capacity to 24,00 MTPA, issue shares

Cera Sanitaryware Ltd has announced that the Board of Directors of the Company at its meeting held on October 31, 2006, inter alia, has transacted the following:

1. Recommended to the member of the Company for the issue of 10,00,000 preferential warrants to promoters group, on conversion, which may result in issue and allotment of not exceeding 10,00,000 equity shares.

2. Recommended to increase Authorised Share Capital of the Company from Rs 3,00,00,000/- divided into 60,00,000 equity shares of Rs 5/- each to 10,00,00,000/- divided into 2,00,00,000 equity shares of Rs 5/- each of the Company.

Further the Company has informed that, the Company has undertaken expansion-cum-modernisation programme worth Rs 25 Crores, which will increase installed capacity to 24,000 MTPA from 15,000 MTPA. The Project is expected to be completed within current financial year.

Source : Equity Bulls

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