Vikas WSP board allots 1 cr equity shares

Our Corporate Bureau

Mumbai, May 16: THE board of directors of Vikas WSP Ltd has allotted 1 crore equity shares of Re 1 each at a price of Rs 82.5 per share to the promoters/directors/associates of the company. The shares have been allotted against the preferential issue of 1,88,00,440 equity share of Re 1 each at a price of Rs 82.5 per share as approved in the EGM of the company on January 4, 2001.

Vikas WSP is currently implementing projects at Vadodara and Sriganganagar to manufacture hydroxypropylguar and carboxymethylhydroxypropylguar. These products have an extensive use in the petroleum industry.