Financial Daily from THE HINDU group of publications
Tuesday, May 16, 2006
Financial Daily from THE HINDU group of publications Tuesday, May 16, 2006 |
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Markets
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Stocks Corporate - Preferential Allotments Our Bureau
Chennai , May 15 Schroders Credit Renaissance Fund and "its affiliates and associates" will pick up 31.50 lakh shares in W S Industries at a price of Rs 67.50 a share, W S Industries told the BSE on Monday. The consideration works out to Rs 22 crore. A general body meeting of shareholders is to be held on June 14 to seek shareholders' approval for issuing the shares to Schroders on preferential allotment basis. Alongside, W S Industries also intends to raise another Rs 10 crore by a private placement of cumulative redeemable preference shares. The notification to the stock exchange says that the company intends to put up a project for producing `electro porcelain insulators'.
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