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Our Bureau

Chennai, Sept. 10 Gujarat NRE Coke Ltd proposes to issue shares with differential voting rights to its existing shareholders, for which its board will meet on September 17 to consider the proposal.

In an announcement to the stock exchanges on Wednesday, the company said it proposed to issue one share with higher voting rights for every 300 equity shares at Rs 1,000 a share, including a premium of Rs 990.

The proceeds of this rights issue would be used to part-finance the green-field coke oven plant being set up in Andhra Pradesh.

It may be recalled that Tata Motors has announced an issue of shares with differential voting rights to its existing shareholders.

More Stories on : Rights Issue | Coke & Metalurgical Coke

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