MADURA COATS-New Products

Rs 155 into one equity share of Rs 10 at Rs 65 premium is to become due for conversion six months from the date the debentures were allotted, and the balance amount of Rs 80 will be redeemed in four equal annual instalments from seventh year of the date of allotment. The issue was made to part finance the cost escalation of the projects on hand, namely, modernisation and expansion of tyre factories at Bombay and Nasik, setting up of a new tyre plant at Aurangabad, expansion of glass fibre division factory at Hyderabad, undertaking of manufacture of nylon tyre cord at Gwalior and entering into manufacture of plain paper copiers at Gandhinagar.