Udaipur Cement to allot equity on preferential basis
To consider and approve further issue and allotment of securities on preferential basis to JK Lakshmi Cement, the Board of Directors of Udaipur Cement Works met on 28 March 2014. The preference was given on the basis of the BIFR sanctioned rehabilitation scheme of the company.
The Board considered allotment of 8,25,00,000 equity shares of Rs. 4 each aggregating Rs. 33 crore and 4,50,00,000, 5 per cent optionally convertible cumulative redeemable preference shares of Rs. 10 each, aggregating Rs. 45 crore.