NEW DELHI : , May 14 (PTI) CG Power and Industrial Solutions on Friday said it will seek shareholder approval to allot 1.38 crore shares for ₹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 ₹2 each on a preferential basis at a price of ₹73.10, including a premium of ₹71.10 per equity share, aggregating to ₹1,01,20,69,500 for consideration other than cash.
