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Our Bureau

Hyderabad , Jan. 21

THE board of directors of Suryajyoti Spinning Mills Ltd, the Hyderabad-based yarn producer, at its meeting on Friday has approved preferential offer to promoters and non-promoters and also considered the term loans for the proposed expansion.

The board has approved preferential issue of 14-lakh warrants convertible into 14-lakh equity shares of face value of Rs 10 each at a price not exceeding Rs 29 on preferential basis to promoters and key management persons.

The board has also decided to forfeit 3,81,925 equity shares.

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