Timken India to issue 42,65,134 shares

The Board of Directors of Timken India Ltd at its meeting held on January 14, 2013, considered a public issuance, private placement or a combination thereof, of up to 42,65,134 equity shares of the Company.

Any offering or placement and its timing will be subject to market conditions, obtaining necessary shareholder and regulatory approvals. The final decision on the timing for the Proposed Issue will be taken by the Board or any Committee of the Board of Directors constituted / to be constituted for the purpose. There can be no assurance that the Company will proceed with the Proposed Issue.

The Timken India Ltd stock closed the day at Rs.192.80, down by Rs.4.55 or 2.31%. The stock hit an intraday high of Rs.198.95 and low of Rs.190.60.

The total traded quantity was 0.41 lakhs compared to 2 week average of 0.42 lakhs.

Source : Equity Bulls

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