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Outcome of board meeting of Ortel Communications

Capital Market 

Held on 10 March 2018

The at its meeting held on 10 March 2018 has approved the following -

Issue of equity shares to promoters / promoter group entity for an amount not exceeding Rs 8.75 crore.

Issue of 9% cumulative non-convertible redeemable preference share for an amount not exceeding Rs 10 crore by way of private placement for a period of 5 years.

Acceptance of fresh inter corporate loan of Rs 8 crore at 9% per annum for a period of 5 years.

The Board also approved convening the EGM meeting of the company on 09 April 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 12:10 IST