ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Modi Threads

 IN THE CAPITAL MARKET Kirloskar Pneumatic KIRLOSKAR PNEUMATIC COMPANY (KPC) is coming out with a public issue of 9,79,981 12.5 per cent secured redeemable partly convertible debentures (PCDs) of Rs 100 each aggregating Rs 9,79,98,100 and rights issue of 8,09,067 equity shares of Rs 10 each at a premium of Rs 20 each totalling Rs 2,42,72,010. Thus the entire issue amounts Rs 12.23 crore approximately. Out of the PCDs of Rs 100 each, Rs 60 will get automatically converted into two equity shares of Rs 10 each at a premium of Rs 20 each at the end of six months from the date of allotment and the re- maining Rs 40 is redeemable at the end of eighth and ninth year from the date of allotment on preferential basis to the promoter companies. Out of the rights issue, 38,527 equity shares of Rs 10 each at a premium of Rs 20 each are reserved for allotment to the employees (including Indian working directors)/workers of the company. The proceeds of the issue will be used for meeting the capital expenditure and working capital requirements of the company.

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