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The board of Syncom Formulations India in its meeting on 30 June 2010 has approved the allotment of 49,24,000 equity shares of Rs. 10 each on preferential allotment basis to promoters group.
The board has approved the allotment of 49,70,000 warrants of Rs. 28 each convertible into equity shares of Rs. 10 each to strategic investors on preferential basis.
Upon allotment of the above said equity shares, the paid up capital of the company has been increased from 1,24,10,348 equity shares of Rs. 10 each to 1,73,34,348 equity shares of Rs. 10 each.
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