Mumbai: Twenty First Century Printers, a provider of different printing and packaging technique, said on 27 August it will issue preferential shares worth Rs11.05 crore to Powersurfer Interactive (India) and foreign institutional investor The Indiaman Fund (Mauritius).
Powersurfer and Indiaman Fund would be allotted nine lakh and eight lakh preferential shares respectively at Rs65 each, the firm said in a filing to the Bombay Stock Exchange.
Further, the company’s board of directors has decided to convene an Extra Ordinary General Meeting of its shareholders on September 24 for seek necessary approval.
The company’s shares were trading at Rs64, down 3.03% in the afternoon trade at the BSE.
The company’s wholly-owned subsidiary in the UK, Usha Martin International Ltd, has acquired the business of De Ruiter Staalkabel BV, a firm incorporated in the Netherlands, Usha Martin said in a filing to BSE.
This acquisition would enable the wire and wire rope manufacturer and its subsidiaries to grow further in Europe, it added.
Shares of Usha Martin were last trading at Rs240, up 3.87% on BSE.