K S Oils issues 9 lakh equity shares to promoters

Mumbai, July 6 (UNI) Edible oil manufacturer K S Oils has decided to issue 9,00,000 equity shares on a preferential basis to the promoters and others at a price of Rs 225 per share, with a face value of Rs 10 each, aggregating Rs 20.25 crore.

This is subject to ratification by the company's shareholers at its annual general meeting to be held at Morena, Madhya Pradesh on July 29, a company release here said.

The authorised share capital of the Rs 600 crore company -- currently at Rs 15 crore divided into 1.50 crores equity shares of Rs 10 each -- has been doubled to Rs 30 crore divided into three crore equity shares of Rs 10 each, by creation of an additional 1.50 crore equity shares of Rs 10 each.

The revenue of K S Oils for FY-06 has touched a record high of Rs 604.27 crores, registering a healthy growth of 34 per cent over Rs 455.11 crore in FY-05. The company's net profit grew by a whopping 377 per cent to Rs 16.02 crore, up from Rs 3.36 crore in FY-05.

In the recent past, the board of the company has recommended an issue of bonus shares on the company's equity shares in the ratio of 1:1.

UNI SN GK AW1743