Spice Mobiles to increase authorised capital

The board of Spice Mobiles has recommended to increase the authorised share capital of the company from Rs 30 crore to Rs 51 crore.

The board has approved the rights issue of 37319000 equity shares of face value of Rs 3 each in the ratio of 1:2.

The board has approved preferential issue of 37319000 equity shares to any select group of persons including strategic investors on private placement basis.

This was approved at the board meeting held on 30 April 2008.