MSP Steel & Power has informed that the board of directors of the company at its meeting held on October 17, 2012, has considered and approved issue of 1,20,00,000 equity shares of Rs. 10 each at a price not less than the price as determined in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 to promoters and non-promoter on preferential basis.
Further, the board of director has authorized Pinky Gupta, the company secretary of the company to take further steps for taking approval of the shareholders for all the aforesaid matters including the finalization of the notice to shareholders.
The above information is a part of company's filings submitted to BSE.
