Financial Daily from THE HINDU group of publications
Tuesday, Mar 08, 2005
Financial Daily from THE HINDU group of publications Tuesday, Mar 08, 2005 |
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Markets
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Preferential Allotments Thiru Arooran board okays pref allotment Our Bureau
Chennai , March 7 THE board of Thiru Arooran Sugars Ltd has approved allocation of 5,64,700 preferential equity shares to the promoters. The company will seek its shareholders' approval at an extraordinary meeting to be conducted on April 1, according to information provided by the company to the stock exchanges. As on December 2004, promoters hold a 46.56-per cent stake, with Mr Ram V. Tyagarajan, Chairman and Managing Director, holding 9.68 per cent; Ms Malathi Ram 2.68 per cent; Mr V.T. Venkateswaran 1.81 per cent; Venkata Tyagarajan Pvt Ltd 24.95 per cent; and Mustang Trading & Investments Pvt Ltd 6.88 per cent. Institutional investors hold 11.33 per cent and others 42.11 per cent including the public, which holds 19.85 per cent. It may be recalled that Mustang Trading picked up 7.09 lakh shares through market purchases in March 2003. Promoters' holding has been on an increase over the last few years. In 2001-02 promoters' share was 41.44 per cent; in 2002-03 it was 46.27 per cent; and in 2003-04 it was 46.56 per cent.
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