Shree Digvijay Cement to hike share capital
Mumbai, April 18: The Board of Shree Digvijay Cement has approved to increase the authorised share capital of the company from Rs 125 crore to Rs 150 crore.
Announcing the hike in authorised share capital, the company at its board meeting held on April 10 also approved to increase the authorised share capital of the company by the creation of further 2.50 crore new equity shares of Rs 10 each and consequential amendments in memorandum and articles of association of the company.
The Board has also decided to re-classify the unissued one crore cumulative preference shares of Rs 100 each forming part of the existing authorised share capital of the company as 10 crore equity shares of Rs 10 each and on such re-classification, the shares comprising the authorised share capital of Rs 125 crore of the company classified as 12.50 crore equity shares of Rs 10 each, subject to necessary approvals and provisions.
The board has been authorised to issue 13,41,84,780 equity shares of an aggregate value of Rs 134,18,47,800 to the shareholders of the company on a right basis in the ratio of 18 equity shares of Rs 10 each at par for every one equity share held by them on a record date as may be decided by the board of directors or in such other ratio as may be decided by the board in the best interest of the company.