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Fedders Holding gives nod to acquisition of 60 acre land in Odisha

Infrastructure  -  Jul 09,2024  - 

The Board of Directors of Fedders Holding Limited have taken note of the acquisition of land measuring around 60 Acre in Odisha for the purpose of setting up of Iron Ore Beneficiation Plant having capacity of 1.5 MT per annum by its subsidiary company namely M/s. Fedders Electric and Engineering Limited, at its Board Meeting held on July 8, 2024.The project shall be operational by March, 2025.

The Board has accorded its approval/consent for issuance and allotment of 44,85,000 number of equity shares pursuant to conversion of 44,85,000 number of warrants convertible in to equivalent number of equity shares to the person(s) belonging to Promoter Group on preferential basis after receipt of balance amount of 75% against each warrant towards full and final subscription amount for conversion of same into equity

Pursuant to above said allotment of equity shares allotted pursuant to conversion of warrants, the issued and paid-up Equity Share Capital of the Company stands increased to Rs. 16,40,65,970/- divided into 1,64,06,597 equity shares of face value of Re 10/- each.

The Equity Shares allotted pursuant to conversion of warrants as stated above shall rank  pari-passu in all respect and carry the same rights as the exiting equity shares of the company including dividends and other corporate benefits, if any, declared by the Company after the said allotment.


Company : Fedders Holding Ltd