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| Exchange Disseminated Time 21/12/2015 10:41:28 | Diamond Power Infrastructure Ltd has informed BSE that the Board of Directors of Diamond Power Transformers Ltd, wholly owned subsidiary of Diamond Power Infrastructure Ltd, at their meeting held on December 19, 2015 passed following resolutions:
a) The Directors of Diamond Power Transformers Ltd allotted 1,19,77,054 shares at a premium of Rs. 10 per share aggregating Rs 23.95 Crores to the strategic Investors on preferential basis.
b) Board of Directors of Diamond Power Transformers Limited approved the sale of its entire holding of equity shares in both the associates Companies, i.e. Maktel Controls and Systems Private Ltd and Maktel Power Ltd.
The Company wants to further clarify that these above noteworthy steeps by the Diamond Power Transformers Ltd. will surely help in augmenting of working Capital needs of the Company and the Company will be able to capitalize on growth optimization and bring about a turnaround in the Transformer Business. |
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