The Hindu Business Line : BEML shareholders clear Rs 400-cr issue

The issue, the premium of which will be decided through book-building, will be subject to approvals from the Government, SEBI, RoC, and other statutory bodies.

Ten per cent of the issue will be reserved for existing shareholders and another 10 per cent for employees.Through another resolution, they approved increasing the authorised share capital from Rs 60 crore to Rs 100 crore.

For 2004-05, the board has recommended payment of 100 per cent dividend, which includes the 15 per cent interim dividend already paid, according to the CMD, Mr V.R.S. Natarajan.

He added that the company had positioned itself well in the three business segments of Defence, Railways, and mining and construction.

It is expected to make improve profits and clock a turnover of over Rs 2,200 crore in the current year, a BEML release said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Suzuki Motorcycle plans Indian launch in Oct with 125-cc bike

ACC to sell refractory business to ICICI Venture Funds for Rs 257 cr

Superstar Exports to buy 15.61 pc stake in SQL Star

Uttam Galva raises $30 m thru FCCBs

Crisil sees steady ratings scenario

Williamson Tea board revamped

Ocimum buys German co's genomic diagnostics division — To merge US, India operations

Appointing commissioner to review records — Birla Corp minority shareholders' plea turned down

FDA bans sale of `Red Bull'

Information security is not a custom, more honoured in the breach than in the observance

BEML shareholders clear Rs 400-cr issue

ONGC forays into power, to set up project in Tripura

GKW shines on BIFR deal

ONGC to be worst hit under subsidy sharing

`Centre must launch full-fledged attack on building infrastructure'