The Hindu Business Line : AP Paper Mills board okays issue of equity to IL&FS

ANDHRA Pradesh Paper Mills Ltd has informed stock exchanges that its board of directors has approved the issue of equity shares to IL&FS Trust Company Ltd and IVC Employees Welfare Trust for an amount not exceeding Rs 1.01 crore.

An increase in authorised capital of the company from Rs 23.75 crore to Rs 35 crore and the issue of 1.18-crore equity shares of Rs 10 each for cash at a premium of Rs 85 per share to the equity shareholders of the company on rights basis in the ratio of 1:1 had also been approved by the board at its meeting held on Saturday.

These decisions were subject to the approval of shareholders at the extraordinary general meeting to be held on April 11.

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