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Our Bureau

Hyderabad , Feb. 5

SUJANA Industries Ltd has informed the stock exchanges that its board of directors at the meeting held on January 27 has approved a resolution to issue equity shares by way of issue of global depository receipts (GDRs) for an aggregate amount not exceeding $20 million with permissible green shoe option.

Keeping this in view, the board has also decided to increase its authorised share capital from Rs 20 crore to Rs 40 crore. The company informed the exchanges that the consent of shareholders for passing these special resolutions would be availed by postal ballot. The company has appointed Mr Y. Ravi Prasada Reddy as Scrutiniser for the postal ballot.

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