Bihar Tubes Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 24, 2008, inter alia, have approved, with requisite majority, the proposal to acquire 100% equity of Shri. Lakshmi Metal Udhyog Ltd, Bangalore from its existing shareholders through share swap deal on agreed swap ratio and to issue, as consideration, 17,98,333 (Seventeen Lacs Ninety Eight Thousand Three Hundred and Thirty Three) equity shares of Rs 10/- (Rupees Ten) each of the Company to the existing shareholders of Shri. Lakshmi Metal Udhyog Ltd on preferential basis.