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Hyderabad, April 7

Indus Networks Ltd has informed the BSE that the company received a withdrawal letter from one of its proposed allottees, Internet Communications India Ltd, Hyderabad to subscribe to 19,30,000 equity shares of Rs 10 each issued at a premium of Rs 10, citing delay in the issue and allotment of equity shares. In view of the withdrawal of acceptance, the Indus board has decided to withdraw the proposal of preferential issue of 65,00,000 equity shares of Rs 10 each issued at a premium of Rs 10 a share.

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Indus withdraws pref issue

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