Asahi Glass, Japan pays Rs. 50 crore in advance to Asahi India Glass Ltd

Asahi India Glass Ltd has received an amount aggregating to Rs. 50 crores from Asahi Glass Co. Ltd., Japan ("AGCL") (one of the promoters of the Company) as advance share application money towards its entitlement under the proposed rights issue of the Company. The said advance money is free of any interest and any amount which shall be in excess or shortage towards the actual entitlement of AGCL shall be adjusted or refunded from the final offer of the proposed rights issue, after meeting any shortfall towards any undersubscribed portion.

Further the Company has inform that the Board of Directors of the Company by way resolution by circulation dated March 28, 2013 has also approved the shifting of Registered Office of the Company from 38, Okhla Industrial Area, Phase - III, New Delhi - 110020 to Unit No. 203 to 208, Tribhuwan Complex, Ishwar Nagar, Mathura Road, New Delhi - 110065 with effect from April 01, 2013.

Shares of Asahi India Glass Ltd last traded in BSE at Rs.49.75, up by Rs.0.80 or 1.63%. The stock hit an intraday high of Rs.49.85 and low of Rs.48.05.

The total traded quantity was 3456 compared to 2 week average of 189668.

Source : Equity Bulls

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