Pentium Infotech's board to meet on Jan 19

Mumbai, Dec 26 (UNI) Pentium Infotech Ltd has informed Bombay Stock Exchange (BSE) that its Board of Directors will meet on January 19 to consider the matter for issue of one crore equity shares (face value of Rs 1.00 per share) on preferential basis as per Securities and Exchange Board of India's (SEBI) guidelines at price not less than Rs 3.10 per share.

The company has recently announced its foray into infrastructure and construction business. The amount realised from preferential allotment of shares would be used for acquiring land in Gujarat.

The company has recently tied up with M/s Rajvi Construction for developing shopping malls, residential complex and commercial complex in Gujarat. M/s Rajvi Construction is a leading player in Realty Sector for last 8 Yrs.

The company's Board of Directors had already approved investment limit of Rs 80 millions for the project.

UNI KKD SSS AW1815