Held on 11 April 2014
The Board of Directors of Electrosteel Castings at its meeting held on 11 April 2014, has decided to issue upto 170,00,000 equity shares of the Company of Re 1 each at an approximate price of Rs 19.41 (including a premium of Rs 18.41) per equity share aggregating upto Rs 32.99 crore (approximately) to the promoters of the Company on preferential basis.The issuance of the said securities shall however be subject to the approval of the Shareholders of the Company at the General Meeting and the issuance of the equity shares shall also be in terms of the provisions of the SEBI (Issue of Capital and Disclosure Requirements), Regulations, 2009 and Companies Act, 2013 read together with the related rules thereunder.
For this purpose an Extraordinary General Meeting has been convened on 12 May 2014 at the Registered Office of the Company to obtain the permission of the Shareholders of the Company.
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