The board of directors of PSL at its meeting held on March 07, 2005, have approved allotment of 50 lakh equity shares of Rs 10/- each fully paid up on preferential allotment basis in accordance with "SEBI Guidelines" for preferential issue.According to a release issued to the BSE, the board of directors of the company has convened an extra ordinary meeting on April 07, 2005 for the shareholders approval for the aforesaid purpose.The board of directors of the company further added that the company has bagged another prestigious order worth Rs 343 crore from Larsen & Toubro, for pipe supply, coating and other related works pertaining to GWRDC and NWRDC projects of Gujarat government, forming part of the "Sujalam Sufalam" and "Modera to Darohi" irrigation works.The project is to be executed within the financial year 2005-2006 and the company has taken effective steps to complete the same as per the schedule requirement, the release added.
