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Shalimar Wires Industries Ltd.

BSE: 532455 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE655D01025
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NSE 05:30 | 01 Jan Shalimar Wires Industries Ltd

Announcement under Regulation 30 (LODR)-Allotment

March 27, 2018, 4:12 pm | Source: BSE | Downlaod PDFDownload PDF

In continuation to our letter No. SW:SEC:185 dated 13th March 2018 and as approved by the Board of Directors in their meeting held on 13th March 2018 the company has settled the outstanding dues of Asset Reconstruction Company (India) Ltd. (ARCIL) as per the terms of their In-Principle Sanction Letter dated 26th February 2018.

Accordingly the company is issuing 5150000 equity shares of Rs. 2/- each to ARCIL against conversion of outstanding interest of Rs. 165.87 crores in terms of ARCILs above mentioned Sanction Letter and in terms of Rehabilitation Scheme sanctioned by BIFR vide its order dated 10th June 2010.