Lumax Industries to consider preferential issue

Lumax Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 26, 2007, inter alia, to consider, the preferential issue of 10,00,000 Equity Shares of Rs 10/- each to Stanley Electric Company Ltd, Japan, the Foreign Collaborators on preferential basis by private placement as per SEBI (Disclosure & Investor Protection) Guidelines, 2000 to mobilize funds for modernisation and expansion of existing Plant capacities, setting up of new manufacturing facilities and meeting long term working capital requirements of the Company due to growth of business.

Source : Equity Bulls

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