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| Exchange Disseminated Time | Kirloskar Electric Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 20, 2015, have approved the following, subject to the approval of shareholders and any other approvals as may be required:
1. Issue of 26,58.200 Equity Shares of Rs. 10/- each to Mr. Vijay R. Kirloskar, Promoter on preferential basis, in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time.
2. Issue of 15,95,890 Compulsorily Convertible Preference Shares ("CCPS") of Rs. 100/- each in one or more tranches, to Mr. Vijay R. Kirloskar, Promoter by way of private placement, in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time. |
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