Corporate News     25-Aug-09
Stresscrete's board approves rights issue
To increase authorised share capital
The board of Stresscrete India has approved a rights issue of at a ratio of 2:1, 2 equity shares for every 1 existing shares and has also approved to increase in authorized share capital of the company from Rs 10 crore to Rs 25 crore for the proposed rights issue.

The board has also passed a resolution on 19 August 2009 to forfeit 2,44,800 equity shares of Rs 10 each for non payment of allotment money. Thus 2,44,800 equity shares of Rs 10 each of the company stand forfeited as on 19 August 2009.

This was approved at the board meeting held on 19 August 2009.

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