NEW DELHI: CG Power and Industrial Solutions on Friday said it will seek shareholder approval to allot 1.38 crore shares for Rs 101.20 crore to Standard Chartered Bank on a preferential basis to settle liability in an extra-ordinary general meeting on June 7.
Earlier this week on Tuesday, the board of directors of the company had approved the proposal for the issuance and allotment of 1,38,45,000 shares of the company of face value of Rs 2 each on a preferential basis at a price of Rs 73.10, including a premium of Rs 71.10 per equity share, aggregating to Rs 1,01,20,69,500 for consideration other than cash.
