The authorised share capital of the iron and steel products company Rathi Steel and Power Ltd has been set for an adjustment as the company has informed exchanges that it plans to create an additional 8,51,853 equity shares of Rs 10 each, aggregating to Rs 85.18 lakh. At the same time, the company will cancel and reclassify 4.08 lakh unissued preference shares having a face value of Rs 10 each. It will be converted into an equivalent number of shares of the company’s equity. These changes will result in a new authorised share capital of Rs 132.50 crore divided into 12.25 crore equity shares and one crore preference shares.
