Ventura Textiles allots shares, to acquire land

Ventura Textiles Ltd has announced that the Board of Directors of the Company at its meeting held on September 24, 2007, inter alia, has approved the following:

1. Allotment of 9863857 Equity shares of Rs 10/- each fully paid-up subsequent to write down of 75% of equity shares capital and consolidation of shares to Face Value of Rs 10/- each to all the shareholders of the Company.

2. To purchase the 13.25 acres of land from promoters group Company at prevailing market price for the proposed expansion project.

Source : Equity Bulls

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