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Corporate News 28-Oct-09

Mahindra Forgings to raise funds

On rights basis

The board of Mahindra Forgings has granted its in principle approval to raise capital to fund its requirements by way of issue of Equity Shares to the existing shareholders on right basis not exceeding Rs. 226 Crores.

The board has also approved convening of the Extraordinary General Meeting (EGM) of the shareholders in order to obtain approval of the shareholders for increasing the authorised capital and reclassifying, if required.

This was decided at the board meeting held on 27 October 2009.

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