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Our Bureau

Hyderabad , Jan. 4

A meeting of the board of directors of Goldstone Teleservices Ltd, the Hyderabad-based manufacturer of polymer insulators and other telecom products, has been convened on January 11 to reconsider the decision on rights issue.

According to company sources, while the company would defer the rights issue, which was planned earlier to part fund the company's expansion plans, it may explore other options of raising funds. The company may also consider a preferential offer to promoters.

It had earlier planned to raise about Rs 30 crore to meet the expansion plans for manufacture of polymer insulators, which the company sources said were in big demand in the country. These polymer insulators were developed through in-house R&D.

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