IID Forgings allots bonus shares

IID Forgings Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 24, 2006, to consider the following:

1. Allotment of 40,57,500 Equity shares of Rs 10 each as fully paid up Bonus shares to the holders of Equity shares on the record date (November 21, 2006) in the ratio of 3 Equity shares of Rs 10 each for every 2 existing Equity share of Rs 10 each as per the resolution passed by the members at the Extra Ordinary General meeting held on October 13, 2006.

2. Approval of investment by Park Investment Ltd, company’s subsidiary for expansion in supply chain actives in Oman (UAE) under a joint venture agreement.

3. A separate division for marketing of software products under the name "Cyberlog Technologies India".

Source : Equity Bulls

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