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Our Bureau

Kolkata March 27 Dunlop India has informed its shareholders for issue of six shares at Rs 10 each on rights basis for every 10 existing shares of the company.

The rights issue will open on April 2 and close on April 6. The shares will be allotted on April 14.

Earlier, the BIFR had allowed the company to go for the rights issue of 2.7 crore shares by April 15. However, the company's proposed open offer is postponed till further notice due to non-availability of SEBI approval on its draft proposal. The open offer — which was earlier forced upon the company by SEBI — was scheduled to open on March 24.

The company's Chairman, Mr P.K. Ruia, told Business Line that the company was yet to receive the final approval from SEBI for the proposed open offer.

Dunlop shares were last traded at Rs 6.60 per share on the BSE on April 15, 2002, below the par value of Rs 10.

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