KSL & Industries EGM to approve isue of shares to GIC

KSL & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on November 30, 2006, has considered and accepted the sanction letter received from General Insurance Corporation of India agreeing to subscribe for Equity Shares of the Company aggregating Rs 30,00,00,000/-. The Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 09, 2007 for passing special resolution for issue and allotment of 1401870 Equity Shares of Rs 4/- each on Preferential basis to General Insurance Corporation of India at the subscription price of Rs 214/-. The issue price has been arrived at Rs 214/- as per SEBI (DIP) Guidelines.

Source : Equity Bulls

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