Bartronics India to spend Rs 262 cr for expansion

New Delhi, Dec 26: Bartronics India, engaged in automatic identification and data capture business, today said it will spend Rs 262 crore for manufacturing of smart cards and radio frequency identification products.

The Board of Directors of the company will meet on January 2, 2007, to consider the project.

The resolutions for increasing authorised share capital to Rs 30 crore from Rs 17 crore, issue of Employee Stock Option Plan (ESOPs), issue of shares through Qualified Institutional Placement (QIP) and convertible warrants to the promoters, will also be taken on record by the board.

UNI