Simplex Projects today said its board has approved the issue of six lakh shares to Saffron Finpro Distributors on a preferential basis.
The board of directors of the company at its meeting has approved the allotment of up to six lakh equity shares on a preferential basis to Saffron Finpro Distributors Pvt Ltd, non-promoter, Simplex Projects said in a filing to the Bombay Stock Exchange.
The above proposal is subjected to the shareholders approval, the filing added.
