Classic Filaments to Issue 47.17 Lakh Equity Shares

The Board of Directors of Classic Filaments Ltd has approved the issue of 47,17,740 equity shares on a preferential basis to non-promoter, public category individuals, subject to member approval. The board also approved several other items including the appointment and regularization of directors, adoption of constitutional documents, increase in authorized share capital and borrowing limits, alteration of the object clause, acquisition of Procasts Engineering Private Limited and Solven Power Systems Private Limited, and opening a new division in the Information Technologies sector. The preferential issue price is set at ₹51.50 per share.