Seshachal Technologies to issue GDR

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GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
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KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
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EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 29/10/2009 | 12:00 AM IST

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Capital Market

Thursday, October 29, 2009 (New Delhi)

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To increase authorized capital

The members of Seshachal Technologies have passed the resolution to issue of GDR to meet the finances for business expansion as detailed in the notice of EGM.

The members have also approved increase of the Authorized Capital of the Company from Rs. 15 Crore to Rs. 30 Crore consisting of 3 Crores equity shares of Rs. 10 each.

This resolution was passed at the extra ordinary general meeting held on 29 October 2009.