Shiva Cement Ltd on Wednesday said it will allot 10 lakh equity shares to IFCI Ltd on preferential basis.
The Board of Directors at its meeting approved the proposal to issue the shares to IFCI, the Orissa-based company said in a filing to the Bombay Stock Exchange.
Earlier in July, the shareholders passed the resolution for the allotment of the shares to IFCI Ltd.
The company further informed that Santosh Kumar Jain has been appointed director with effect from August 8. He is at present Director of 'Aastha Broadcasting Network Ltd – AASTHA TV Channel'. (Source: The Hindu)