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Bombay Rayon Fashions has declared a lock-out at its mill division located at Dodaballapur, Bangalore. The company said the lock-out is a part of the restructuring exercise. The company’s stock on Wednesday closed a tad weaker at ₹198.05.
The board of directors of Garden Silk Mills has approved a proposal to allot 18.42 lakh shares of ₹10 each at a premium of ₹28 a share to warrant holders, part of the promoter group on exercise of conversion option. Consequent to the allotment, the paid-up equity capital of the company has increased to ₹40.13 crore from ₹38.29 crore. The equity shares so allotted will be locked in for three years from the date of allotment. The stock jumped 5 per cent at ₹41.95.
The board of directors of Udaipur Cement Works Ltd will meet on March 28 to consider allotment of securities on preferential basis to JK Lakshmi Cement Ltd, a promoter company, in terms of the BIFR Sanctioned Rehabilitation Scheme. According to the proposal, the company plans to allot 8.25 crore shares of ₹4 each and 4.5 crore 5 per cent optionally convertible cumulative redeemable preference shares of ₹10 each to JK Lakshmi Cement. Through this allotment, the promoter group will infuse ₹78 crore in Udaipur Cement. The company's stock rose 15 per cent at ₹6.
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