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The board of Shivam Autotech is scheduled to meet on 2 July 2023, to consider a proposal to issue secured, redeemable, non-convertible debentures (NCD) on a private placement basis. The NCD issue will be subject to all necessary regulatory and statutory approvals.
The board may also consider conducting an extraordinary general meeting or postal ballot process to seek shareholder approval for the proposal, if required.
Haryana-based Shivam Autotech manufactures a comprehensive range of auto components and accessories that primarily include transmission gears, transmission shafts, alternator components, starter motor components, magneto components and steering components.
Shares of Shivam Autotech fell 1.90% to Rs 24.81 on 28 June 2023.
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