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Hyderabad, Sept. 4

Andhra Cements Ltd has allotted 87.4 lakh equity shares of Rs 10 at a premium of Rs 18.60 per share to Infrastructure Development Finance Company Ltd on preferential basis. The company informed the BSE that its committee of board of directors, at its meeting held on September 4, okayed the move as per SEBI guidelines and in terms of the resolution passed by the shareholders at the extra-ordinary general meeting held on August 21.

— Our Bureau

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