Nijjer Agro Board to consider issue of shares to reduce interest burden

Nijjer Agro Foods Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 15, 2006 to discuss and approve preferential issue of shares to promoters, bank, institution and / or institutional investor at a premium of not less than Rs 8-10 per share. And also to existing share-holders in accordance with the guidelines.

The funds will used to repay debt to reduce interest burden and increase profits. The amount to be raised and terms will be decided at the meeting.

Source : Equity Bulls

Keywords