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| Exchange Disseminated Time 31/12/2015 17:08:47 | With reference to the earlier letter dated December 18, 2015 inter alia informing that the Board of Directors of the Company at its meeting held on December 18, 2015 has approved the offer for subscription to Rights issue received from Avanti Frozen Foods Private Limited and accordingly, the Company shall invest Rs. 84.60 crores in the equity share capital of Avanti Frozen Foods Private Limited by way of subscription to 60,00,000 equity shares of Rs. 10/- each at a premium of Rs. 131/- per share in accordance with the Rights issue offer letter.
Avanti Feeds Ltd has now informed BSE that in pursuance of the above decision the Company subscribed to the rights issue of Avanti Frozen Foods Private Limited and invested Rs. 84.60 crores in the equity share capital of Avanti Frozen Foods Private Limited, and the shares were allotted on December 31, 2015. |
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