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Hyderabad, April 11

The board of directors of Vijay Textiles Ltd has approved a proposal to acquire 17 acres at Rajapoor in Mahaboobnagar district for Rs 5.1 crore to set up facilities to manufacture wider width fabrics. The board, which met last week, also approved a proposal to open its third showroom at Kukatpally in Hyderabad. It also considered and approved allotment of 52.69 lakh equity shares of Re 1 each at a price of Rs 12 per share to Mr Susheel Kumar Gupta (47.14 lakh shares) and to Ms Shashikala Gupta (5.55 lakh), the company informed the Bombay Stock Exchange on Tuesday.

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