USHA MARTIN LTD. - Outcome of Board Meeting (Board approves Rights Issue of equity shares)

Usha Martin Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 16, 2014,<br/>has resolved to raise funds by way of a rights issue of equity shares of face value of Re. 1 each, aggregating up to Rs. 200 Crores including premium ("Rights Issue"), subject to all applicable statutory and regulatory approvals.<br/><br/>The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the Rights Issue and other related matters shall be decided by the Board of Directors or a duly empowered committee thereof.