Restile Ceramics Updates on proposed rights issue

Restile Ceramics Ltd has announced that the Company in its 20th Annual General Meeting (AGM) held on September 28, 2006, has obtained the consent of the shareholders for issuing rights shares for an amount of Rs 42.00 Crores to the existing members in the ratio of Four Equity Shares for every Five Equity Shares of Rs 10/ each held, to the existing equity share holders of the Company whose names appear in the register of members of the company as on the specified date.

In this connection, the Company has appointed Allianz Securities Ltd as the Lead Managers to the issue.

Source : Equity Bulls

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