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HYDERABAD: HBL Nife Power Systems has informed the stock exchanges on Thursday that an extraordinary general meeting would be held on February 10 for seeking the approval of shareholders for the proposed rights issue and hike in authorised capital.

It proposes to allot 13.38-lakh equity shares of Rs 10 each for cash at a premium not exceeding Rs 90 per share on a rights basis to the existing shareholders whose names appear on the register of members on date to be determined by the board.

It also proposes to increase its authorised share capital from Rs 21 crore to Rs 25 crore by creation of 40-lakh equity shares of Rs 10 each and accordingly amending articles and MoA.

(This article was published in the Business Line print edition dated January 21, 2005)
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