Orissa Minerals Development Co Ltd (OMDC) board has proposed the increase of authorised capital from existing Rs 60 lakh to Rs 25 crore, subject to approval from the shareholders. This is a precursor to the broad plan for capital restructuring, including issuance of bonus shares.
The Kolkata-headquartered company’s board is scheduled to meet on September 3. On Monday, the shares of OMDC closed 4.63 per cent higher at Rs 56,377 on the BSE. The company also planned share split and merger of another Odhisha-based group mining company Bisra Stone Lime Co (BSLC) with it.
jayanta.mallick@
thehindu.co.in