WS Industries India Limited has informed that the Board of Directors at its Meeting held on January 28, 2009 approved the issue of 3,50,000 Non - Convertible Cumulative Redeemable Preference Equity Shares of Rs 100/- each to M/s. Vensunar Private. Limited, one of the Promoters of the Company, by way of private placement pursuant to the approval of the equity shareholders at the Extra Ordinary General Meeting held on January 23, 2008.
The entire subscription amount of Rs 3,50,00,000/- has since been received from M/s.
Vensunar Private. Limited and accordingly the equity Share Allotment Committee at its Meeting held on July 13, 2009 allotted 3,50,000 Non - Convertible Cumulative Redeemable Preference Equity Shares of Rs 100/- each with a coupon rate of 10% p.a. to the said Promoter.
The said Preference Equity Shares are redeemable on or before February 28, 2013.
The entire subscription amount of Rs 3,50,00,000/- has since been received from M/s.
Vensunar Private. Limited and accordingly the equity Share Allotment Committee at its Meeting held on July 13, 2009 allotted 3,50,000 Non - Convertible Cumulative Redeemable Preference Equity Shares of Rs 100/- each with a coupon rate of 10% p.a. to the said Promoter.
The said Preference Equity Shares are redeemable on or before February 28, 2013.
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