• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad, Aug. 11 Sagar Cements Ltd has allotted 10 lakh equity shares, totalling 6.67 per cent of stake in the company, to Parficim SAS, a subsidiary of France-based Vicat SA.

The equity shares of Rs 10 each were allotted at a price of Rs 700 a share. The board of the company had approved the preferential issue of shares to Parficim at its meeting held on August 6, 2006, the company informed the Bombay Stock Exchange on Monday.

“The allotment of shares was subsequent to an agreement in June 2008, through which both companies agreed to set up a 5.5-million-tonne a year cement plant at a cost of Rs 2,500 crore in Gulbarga, Karnataka. As we got all the approvals for the issue, we have done it now,” Mr Srikant Reddy, Executive Director, Sagar Cements told Business Line.

Post the allotment of shares to Parficim, the fully-diluted equity share capital of the Hyderabad-based company increased from Rs 14 crore to Rs 15 crore.

More Stories on : Private Placement | Cement

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line