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Vikas Proppant & Granite Ltd - Corporate Announcement For Promoter Share Selling For Partly Financing The Plant & Machinery Orders For Producing Proppants Through Off Market Sale Of 1,14,96,980 Share On 31St March, 2019. These Shares Will Not Be Offered For Re-Sale In The Market By The Financer

| Updated on April 02, 2019 Published on April 02, 2019

This refers to the captioned subject and we want to request as under:-
1.Your company has decided to enter into a new niche market of Proppants manufacturing which ONGC and other oil and gas drillers are importing currently. The company has planned to manufacture Proppants and mining of granite and fractured debris near Jodhpur.
2.The shareholders are informed that your company has started implementation of its projects.
3.The cost of plant and equipments to be installed for manufacturing the premium grade proppants at Kaparda District Jodhpur (47 KM from Jodhpur - on way to Jaipur) is arrived at Rs. 86.72 Crore (excluding bought out items and buildings). Promoter of the company (B.D. Agarwal) has sold 1,14,96,980 shares as per BSE filings to meet out the funding shortfall of plant and machinery orders for producing the proppants. As the result of sale, Promoters shareholding reduced from 24.70% to 22.42%. Shareholders are informed not to be worried about as these shares will not be offered as a resale in the market. To obtain finance was the forcing needs of your company and accordingly management decided to do so.
This is for your kind information and request you to take on the record of exchange and oblige.

Pdf Link: Vikas Proppant & Granite Ltd - Corporate Announcement For Promoter Share Selling For Partly Financing The Plant & Machinery Orders For Producing Proppants Through Off Market Sale Of 1,14,96,980 Share On 31St March, 2019. These Shares Will Not Be Offered For Re-Sale In The Market By The Financer

Source : BSE - www.bseindia.com

Published on April 02, 2019

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