The Company holds 6,68,280 Preference shares of Rs 100/- each out of 9,??81,500 Preference Shares issued i.e. 68.09% of total preference share capital of Gujarat Poly Electronics Limited (GPEL), its subsidiary company and now proposes to buy the balance 3,13,220 Preference shares of Rs 100/- each i.e. 31.91% of Preference Shares capital subject to completion of all formalities required if any before purchase of preference shares.
The Board of Directors of the Company at their meeting held today, have approved the above.
This is for your information and record.
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