NRB Industrial Bearings allots 50 lakh preference shares to Promoter

On private placement basis

NRB Industrial Bearings has allotted 50,00,000 cumulative, redeemable, non-convertible preference shares of Rs. 10 each aggregating to Rs 5 crore of the Company on private placement basis to Devesh Singh Sahney, Chairman, Managing Director and Promoter of the Company. The preference dividend be paid annually at 2% p.a. post tax expenses. The said shares shall not be listed on any stock exchange.

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