JK Tyre & Industries Ltd has informed the market that on the meeting that was held on june 28th 2008 they have come out with some decsion out of which rights issue is also one of the proposal ,
Rights Issue details
1. Issue Particulars: Right Issue of 1,02,64,836 Equity Shares
2. Ratio: 1:3 (One Equity Share for every three Equity Shares held as on the Record Date)
3. Price: Rs 85/- per Equity Share (i.e. Rs 10/- towards face value and Rs 75/- towards
premium per Equity Share)
4. Terms: Full amount of Rs 85/- is payable on application.
BEML and SAIL has signed agreement by which SAIL shall purchase 261 mining equipment over three years. The estimated value of these equipment is about 4.77 billion rupees.Apart from this, the maintenance contract for the equipment to be supplied is valued at 3 billion rupees.
BEMl also signed another contract with Coal India
BEML has also signed a 12-year agreement with Coal India Ltd to jointly produce off the road (OTR) tyres. The OTR tyres will be produced by Apollo Tyres and JK Tyres.Coal India will fund BEML to a tune of 2 billion rupees, for investing 1 billion rupees each in Apollo and JK Tyres.
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