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Our Bureau

Hyderabad, May 30

IT and geospatial services provider Infotech Enterprises Ltd has approved the issue of preferential shares to Carrier International Mauritius Ltd, and GA Global Investment Ltd, Cyprus, and their affiliate group entities. The company board has approved this move and has called an extraordinary general meeting of shareholders on June 23, to seek their consent for allotment of these shares. It has decided to allot 38.11 lakh equity shares of Rs 5 each at Rs 360 per share as underlying equity shares for the issue of American Depository Receipts and 27.24 lakh compulsorily convertible preference shares of Rs 360 each convertible into equity shares of Rs 5 each at a premium of Rs 355 per share. The company board, in a statement to the BSE, also decided to issue 17.72 lakh shares of Rs 5 each at a price of Rs 360 per share.

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Infotech issuing equity, pref shares

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