ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Lever on Growth Path

Lever on Growth Path Hansavivek HINDUSTAN LEVER has embarked upon a major expansion-cum- diversification programme for which it has obtained industrial licences for annual manufacture of 30,000 tonnes of sodium tripoly phosphate, 19,500 tonnes of phosphoric acid, 54,000 tonnes of sulphuric acid, 10,000 tonnes of synthetic detergents, 3,000 tonnes of ossein, and 6,000 tonnes of di-calcium phosphate, besides substantial expansion of the manufacture of fine chemicals. To meet a part of the finance required for these projects and to comply with the conditions of industrial licences in regard to dilution of foreign shareholding, the company proposes to issue 50,20,000 new equity shares of Rs 10 each at a premium of Rs 6 per share for cash at the total aggregate issue price of Rs 8.03 crores. Out of these shares, 12,51,736 shares are proposed to be offered to Indian shareholders resident in India in the proportion 1 : 2 and 7,317 shares to non-resident shareholders (other than Unilever). In addition, it is intended to reserve 2,50,000 new equity shares for subscription by directors, their friends and relations and an equal number by employees, subject to the condition that no employee will be entitled to apply for more, than 200 equity shares from the reserved quota. The balance of 32,60,947 new equity shares together with the unsubscribed portion, if any, of the new equity shares reserved for subscription by employees will be offered to the investing public under a prospectus.

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