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Our Bureau

Hyderabad, June 8

The shareholders of Khaitan Electricals Ltd (KEL), at the extraordinary general meeting (EGM) held on Monday, unanimously approved issue of equity shares on preferential offer basis.

The company informed the stock exchanges that the EGM approved issue of 30-lakh equity shares of Rs 10 each at a premium of Rs 129.30 per share to proposed independent allottees. The EGM also passed a resolution to issue 12-lakh equity shares of Rs 10 each at a premium of Rs 129.30 per share to promoters on preferential basis as per relevant SEBI DIP Guidelines. The company also obtained the EGM's approval for creation of mortgage, charges and hypothecation of its assets of a value not exceeding Rs 100 crore.

More Stories on : Preferential Allotments | Electrical Goods

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