Ashirwad Steels to consider preferential issue on Apr 29, 2009

Ashirwad Steels & Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 29, 2009, inter alia, to consider increase of Authorised Capital of the Company from Rs 8,00,00,000 (Rupees eight crores only) divided into 80,00,000 (eighty lacs) Equity Shares of Rs 10/- each to Rs 12,50,00,000 (Rupees twelve crores fifty lacs only) divided into 1,25,00,000 (One crore twenty-five lacs only) Equity Shares of Rs 10/- each.

To consider fresh issue of Equity Shares of the Company on a Preferential Offer Basis to the holders of unsecured loans (loan creditors).

To call for an Extra Ordinary General Meeting of the members of the Company to take necessary consent for the above matters.

The stock closed the day at Rs.6.84. The stock hit an intraday high of Rs.6.84 and low of Rs.6.84.

The total traded quantity was 100 compared to 2 week average of 203.

Source : Equity Bulls

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