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The board of Uttam Value Steels has agreed to allot up to 12.9 crore equity shares of ₹10 each through preferential allotment at a price of ₹15.50 each for a consideration of up to ₹200 crore to UD Industrial Holding Pte Ltd, Singapore. The board has deferred a decision on the demerger of the engineering division (of Lloyds Steel). On Friday, the stock surged 20 per cent to ₹6.72 on the BSE.
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