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Outcome of board meeting of GKB Ophthalmics

Capital Market 

Held on 13 December 2019

The Board of GKB Ophthalmics at its meeting held on 13 December 2019 has approved to call for the remaining 75% of Rs 155 i.e. Rs 116.25 per warrant pertaining to 7.50 lakh equity convertible warrants of Rs 10 at a premium of Rs 145 allotted by the company on preferential basis on 27 July 2018.

The Board also decided that in order to minimize the cost of rental and other operational costs, the factor for the said joint venture will now be located at the unutilised existing factory building at Mapusa, Goa instead of Banda, Maharashtra.

The Board took note that in case the "Other lnvestors" do not subscribe to the 15% stake, the same would be subscribed by K.G. Gupta & Family.

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

First Published: Fri, December 13 2019. 14:09 IST