Pentium Infotech Board to consider preferential issue at Rs.3.10

Pentium Infotech Ltd has announced that a meeting of the Board of Directors of the Company will be held on January 19, 2007 to consider the matter for the issue of 1 crores Equity Shares (Face value of Rs 1.00 Per Share) on preferential basis as per SEBI Guidelines at price not less than Rs 3.10/— Per Share which is at a good premium to the Market price. The Company has recently announced its foray in to Infrastructure & Construction business. The amount realized from preferential allotment of Shares will be used for acquiring Land at Gujarat.

The Company has recently tied up with M/s. Rajvi Construction for developing Shopping Malls, Residential Complex, Commercial Complex etc. in the State of Gujarat. M/s. Rajvi Construction is leading player in Realty Sector for last 8 Yrs. The Board of Directors of Company has already approved Investment Limit of Rs 80 Millions for this Project.

Source : Equity Bulls

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