Sirpur board to take up pref issue on Jan 23

The board will evaluate various options including issue of ordinary shares, warrants, debentures, secured premium notes, floating rate bonds or other securities.

Aravali Securities and Finance, an outfit belonging to the promoters, has recently bought the AP government's 6.35 per cent stake (5,29,131 shares) in the company at a price of Rs 67 per share.

Promoters stake as on June 30, 2003 stood at 43.25 per cent, of which Aravali Securities was holding 29.97 per cent.