The Hindu Business Line : Corporate developments

Dhanalakshmi Bank Ltd’s board of directors has decided to issue equity shares on rights basis in the ratio of one equity share for every one equity share of Rs 10 held at a premium of Rs 52 per .

Indo Tech Transformers Ltd has said that the formal inauguration of the modern power transformer plant at Kancheepuram is scheduled to take place on February 8.

Indus Fila Ltd board of directors has decided to raise funds up to $50 million or its equivalent in the form of equity/debt by means of issuance of equity/convertible debt or non-convertible instruments such as equity share, preferential equity, GDR, ADRs, optionally fully convertible instruments, FCCB, QIP and/or any other instruments or combination of any similar instruments as may be advised by the merchant bankers and in compliance with guidelines issued by SEBI and provisions of the Companies Act, 1956.

OM Metals Infraprojects Ltd has said that Om Metals Consortium, a partnership concern, has secured LoI for an estimated Rs 600 crore slum rehabilitation project in Bandra Reclamation, Mumbai. The company has 35 per cent equity stake in the consortium. The project is expected to commence in the next three-four months, and will be completed over three years. The company is in the process of executing large size real estate projects, and has more than five million sq. ft of land under development.

Shree Renuka Sugars Ltd has convened a meeting of the board of directors on January 23 to consider and approve the proposal of stock-split/sub-division of the ordinary equity shares of Rs 10 each of the company.