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Foundry Daily News

19. October 2008

India - Electrosteel to issue shares to foreign firms

MUMBAI - Electrosteel Castings Ltd said on Wednesday its board has approved issuing up to 42.4 million shares to non-founder overseas firms on a preferential basis.

The shares would be issued at a price of up to 38 rupees per share or calculated as per regulatory norms, whichever is higher, the firm said in a statement.

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