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Inter State Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 08, 2008, inter alia, has approved the following:

1. Increase of Authorised Share Capital from Rs 8,50,00,000/- (Rupees Eight Crore Fifty Lacs only) to Rs 30,00,00,000/- (Rupees Thirty Crores only) divided into 30,00,00,000/- (Thirty Crores only) Equity shares of Rs 1/? each by creation of 21,50,00,000 (Twenty One Crores Fifty Lakhs) new equity shares of Rs 1/-.

2. Preferential Allotment of Securities which shall not exceed Rs 2,50,00,000/- (Rupees Two Crores Fifty Lakhs only) fully paid up equity shares of the face value of Rs 1/- each at price as per SEBI Guidelines and the provisions of the Companies Act 1956.

3. To issue GDR/ADR Issues of US$ 20.00 Million.

4. To convene Extra-Ordinary General Meeting on April 04, 2008.

Tags: Inter State Finance

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