Ushdev International to issue rights shares

Monday, February 18, 2008, 17:06 [IST]

New Delhi, Feb 18 (UNI) Ushdev International Ltd today said that its board has approved the right issue in the proportion of one equity shares for two equity shares already held at a premium of Rs 90 per share.

Each right shares offered shall have one detachable warrants to be converted into one equity share of Rs 10 each at a premium of Rs 90 per share share, subject to approval by the shareholders, said a statement.

The core activities of the company are power generation and trading of steel. The company commenced operations by trading in steel and diversified to wind power industry.

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