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Hyderabad Jan. 20 Vijay Textiles Ltd will construct a multi-storeyed IT park here covering a built-up area of about 2,25,000 sq.ft. with an investment of Rs 101.25 crore, excluding registration charges.

The Hyderabad-based company is entering into an agreement with Meenakshi Infrastructures Pvt Ltd for construction of the IT park.

Informing these developments to the BSE, the company said its board of directors, which met on January 16, had given its consent to the proposal.

The board has also considered and approved the allotment of 49,65,000 equity shares of Re 1 each at a price of Rs 12 per share (inclusive of premium of Rs 11 per share) to Mr Susheel Kumar Gupta (44,10,000) and Ms Shashikala Gupta (5,55,000) by exercising the rights of conversion of warrants issued to them @ Rs 12/- per warrant on preferential basis.

More Stories on : Diversification | Infrastructure | Textiles

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