The Hindu Business Line : Bhagyanagar Metals equity allotment

HYDERABAD: Bhagyanagar Metals Ltd has allotted 37,03,703 equity shares on a preferential basis to the Singapore-based Khattar Holdings Pte Ltd, promoted by Mr Satpal Khattar. This amounts to about 10 per cent of the paid-up equity of the company.

Mr Khattar is the Chairman of GuocoLand Ltd, formerly known as First Capital Corporation Ltd.

Khattar Holdings is engaged in infrastructure development in Singapore with investments in the UK, China and India, according to Mr Narendra Surana, Managing Director of Bhagyanagar Metals Ltd.

Bhagyanagar Metals, the flagship company of the Hyderabad-based Surana Group, and engaged in the manufacturing of telecom cables, copper wire rods and CDMA phones and accessories, has recently announced its diversification into infrastructure sector — particularly IT parks and entertainment-related projects.

The company board, which met here, allotted 54,87,360 equity shares on a preferential basis, including to Khattar Holdings, a company statement said.

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