The Hindu Business Line : Khaitan Electricals plans pref offer

The board of Khaitan Electricals Ltd (KEL) at its meeting held on Monday has decided to convene an extraordinary general meeting of shareholders on June 5 to seek their consent for the proposed preferential offer of equity shares. The company proposes to issue 12 lakh equity shares of Rs 10 each at a premium of Rs 129.30 per share (offer price Rs 139.30) to promoters. It also plans to issue 30 lakh equity shares of Rs 10 each at a premium of Rs 129.30 per share (offer price Rs 139.30) to proposed strategic investors, the company informed the stock exchanges.

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