Gujarat Apollo Equipments defers rights issue

Gujarat Apollo Equipments Ltd has announced that the Board of Directors of the Company at its meeting held on November 25, 2006 has decided to defer the proposed Right Issue indefinitely in light of exploring other means of project finance.

The Company has also decided to set up a wholly owned subsidiary to consolidate manufacturing of mobile construction equipment at a new location. The new entity shall add several products to further enhance its products line.

Source : Equity Bulls

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