Dhampur allots 2 lakh shares to IFCI | india | Hindustan Times
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Dhampur allots 2 lakh shares to IFCI

The sugar company has allotted over 2 lakh compulsorily convertible preference shares to develop IFCI Ltd.

india Updated: Sep 12, 2006 18:46 IST

Dhampur Sugar Mills Ltd on Tuesday said it has allotted over 2 lakh compulsorily convertible preference shares (CCPS) for development of financial institution IFCI Ltd.

At a meeting held on Tuesday, the board of directors allotted 2,74,430 CCPS to IFCI, the company said in a filing on the Bombay Stock Exchange.

The company said a proposal to merge its wholly-owned subsidiary DSM Hitech Products Ltd with itself also got the board's nod, subject to shareholders as well as high court approval.

No new shares would be issued consequent to the amalgamation, Dhampur Sugar added.