Axtel Industries EGM approves issue of shares

Axtel Industries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 04, 2007, inter alia, have passed the Special Resolution authorising the Board of Directors of the Company to offer 20,00,000 equity shares of Rs 10 each for cash at par aggregating Rs 2 crore or warrants [i.e. Other financial instruments] to be exchanged with 20,00,000 equity shares of Rs 10 each at par to the Directors, their relatives and their associates.

Source : Equity Bulls

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