Malwa Cotton Spinning Mills Ltd has informed that the Board of Directors of the Company at its meeting held on May 13, 2008 has approved the allotment 634920 Equity Shares of Rs 10/- each at a premium of Rs 53/- each to IFCI Ltd on preferential basis in terms of Restructuring of debt approved by them against funded interest on account of overdue interest aggregating to Rs 400 lakhs based on SEBI pricing formula.
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