There is no time frame fixed for completion of the issue process.``The resolution empowers the board of director of the company to go for the issue when it can get the best pricing,'' ZIL company secretary Mohan Akela said after its anual general meeting here today.

The company has also announced a dividend of 12 per cent, which would be paid on a pro-rata basis on the shares issued as part of the initial public offer made in December 1999.

Shareholders have also approved shifting of the company's office from Mumbai to Navi Mumbai in October.