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The board meeting of Ram Ratna Wires has approved issue 15,30,000 equity shares of face value Rs 10 each for cash at a premium of Rs 44 per shares on preferential allotment basis to persons / entities of the promoters group of the company.
The board has decided to increase the authorised share capital from Rs 10,00,00,000 to Rs 15,00,00,000 divided into 1,50,00,000 equity shares of Rs 10 each by creation of an additional 50,00,000 equity shares of Rs 10 each.
Further, the board has decided to convene extra-ordinary general meeting.
This was decided at the board meeting held on 20 December 2007.
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