The Hindu Business Line : Madhucon board okays pref allotment

MADHUCON Projects Ltd has informed the bourses that its board of directors, at a meeting held on January 11, has approved the proposal for issue on preferential basis 4-lakh equity shares of Rs 10 each to bodies corporate and private investors and 3.25-lakh convertible warrants of Rs 10 to bodies corporate, promoters and other investors at a price of Rs 390 per share and warrant (including premium of Rs 380).

The company stated that an extraordinary general meeting of the shareholders would be held on February 9 to seek the approval of shareholders for the proposed preferential issue of shares and convertible warrants.

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