ITD Cementation to enhance capital, issue preference shares / equity shares

ITD Cementation India Ltd has announced that the Board of Directors of the Company at its meeting held on January 03, 2007, has decided, subject to the approval of the shareholders at its Extraordinary General Meeting to be held on February 13, 2007 to

1. Increase its authorised share capital from Rs 11 Crores to Rs 75 Crores.

2. Issue Redeemable Preference Shares (cumulative / non cumulative) upto an amount of Rs 60 Crores. These shares will not be listed on any Exchange.

3. Issue Equity Shares to Qualified Institutional Buyers (QIBs) upto an amount of Rs 250 Crores.

Source : Equity Bulls

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