Prraneta Industries to consider preferential issue

Prraneta Industries Ltd has announced that the Board of Directors of the Company at its meeting held on March 24, 2009, inter alia, has decided to raise funds for expansion via Preferential Issue by Allotting Convertible Equity Warrants of Rs 1/- each, to various allottees, the pricing and other formalities would be as per the SEBI (DIP) Guidelines. It's also decided that Extra-Ordinary General Meeting of the members will be held on April 21, 2009 to take their approval for the same.

The Company has decided to increase the Authorized Capital from Rs 9.00 Crores to Rs 25.00 Crores, for further expansion plans.

Source : Equity Bulls

Keywords