Panyam Cements seeks EGM approval for issue of 2090909 shares

Panyam Cements & Mineral Industries Ltd has announced that the Board of Directors of the Company at its meeting held on December 11, 2006 has decided to convene an Extra-Ordinary General Meeting of the members of the Company on January 17, 2007 to consider issue of 2090909 Equity Shares of Rs 10/- each at a price of Rs 55/- (including a premium of Rs 45/-) aggregating to Rs 11.50 crores to M/s. S P Y Reddy and Associates pursuant to Section 81(1A) of the Companies Act, 1956.

Source : Equity Bulls

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