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 Corporate - Preferential Allotments


Nelco to hike authorised capital base

Our Bureau

Mumbai , Aug. 24

NELCO Ltd has informed the National Stock Exchange that it plans to increase its authorised capital base to Rs 50 crore from the existing Rs 25 crore through equity and preference shares.

The Rs 50 crore would comprise 2.50 crore equity shares of Rs 10 each and 25 lakh redeemable preference shares of Rs 100 each.

The board of the company also approved a special resolution under section 31 of the Companies Act, 1956 for alteration of Article 5 of the Articles of Association of the company.

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