The Hindu Business Line : Ansal Prop board okays hike in share capital

The board of Ansal Properties and Infrastructure Ltd (APIL) today approved a hike in the authorised share capital from Rs 65 crore to Rs 100 crore, while giving its consent for issue of securities of up to Rs 2,000 crore.

"The board of directors has approved sub-division of the equity shares of the company from their present denomination of Rs 10 each to Rs 5 each; increase in the authorised share capital from Rs 65 crore to Rs 100 crore and consequent amendments in the Memorandum of Association of the company," the company said in a notice to the BSE.

The meeting has also cleared the Employee Stock Option by way of issuance of up to 3,50,000 option (shares). The company has convened the Extraordinary General Meeting on May 2, for seeking the approval of the members.

Last week, APIL had said that it plans to go for a public offer in the next four months, the proceeds of which would be utilised for the company's projects. It currently has about Rs 15,000 crore worth of projects in hand, scheduled for implementation over the next few years.

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