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 Corporate - Preferential Allotments


Suryavanshi gets shareholders' nod for pref offer

Our Bureau

Hyderabad , Feb 22

THE shareholders of Suryavanshi Spinning Mills Ltd (SSML) approved the company's proposed preferential offer at an EGM on Wednesday.

They approved the issue and allotment of 15,06,747 fully paid-up equity shares of Rs 10 each at Rs 87 on preferential basis to the financial institutions, FIIs, and investors.

The EGM also cleared the proposal to increase the authorised share capital from Rs 8 crore divided into 80 lakh equity shares of Rs 10 each to Rs 15 crore divided into 1.5 crore equity shares of Rs 10 each, by addition of 70 lakh equity shares of Rs 10 each.

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