Nivedita Mercantile to allot 7.5 lakh shares

Nivedita Mercantile & Financing Ltd has announced that the Board of Directors of the Company at its meeting held on February 20, 2010 has approved, subject to the approval of members and appropriate authorities, the Board has decided to issue & allot 7,50,000 Equity Shares of Rs. 10/- each to be issued at a premium of Rs. 54/- per share to Promoters and Other Investors on preferential allotment basis pursuant to Section 81(1A) of the Companies Act, 1956 and as per the SEBI (Issue of Capital and Disclosure Requirement) Regulation, 2009 issued by Securities and Exchange Board of India (SEBI).

The Board will call an Extra Ordinary General Meeting of the members on March 25, 2010.

Source : Equity Bulls

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