Lesha Energy doubles authorised capital

In its recently concluded extraordinary general meeting (EGM), board of directors of  Ahmedabad-based Lesha Energy Resources Limited has resolved to increase the company's authorised capital from Rs 16 crore to Rs 33 crore.
 
The company would be doing so by way of creating Rs 1,70,00,000 additional equity shares of Rs 10 each.  

Lesha Energy also decided to acquire by share swap 1,02,90,000 equity shares of the face value of Rs 10 each in Garlos Oil and Gas (P) Ltd. at a price of Rs 15 per share aggregating to a sum of Rs 15.43 crore over and above the securities of other companies already acquired, loans already made to the other bodies corporate, amount of securities already provided and guarantee already given.
 
It is to be mentioned here that the company had changed its name some time back from Lesha Steel to Lesha Energy Resouces Limited and had announced a change in business from steel to energy.