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Our Bureau

Hyderabad, May 18

The board of directors of Pitti Laminations Ltd (PLL) at its meeting on Thursday proposed to issue on preferential basis 15-lakh equity shares at Rs 120 per share (including premium of Rs 110 per share) to non-promoters and one-lakh equity shares to promoters at the same price. Further, the board proposes to issue 4-lakh share warrants to promoters at Rs 120 per share warrant on preferential basis. The company informed the stock exchanges that the issue price was determined in accordance with SEBI guidelines. However, the company said the issue is subject to shareholders' approval at the annual general meeting scheduled for June 16.

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