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Whirlpool to issue preferential shares
NEW DELHI:
Durables major, Whirlpool India, on Monday announced its decision to allot 15.5 lakh redeemable cumulative shares of Rs. 10 each to its parent Whirlpool Corp or its subsidiaries on a preferential basis. A decision to this effect was taken at the company's board meeting on April 27. The issue of redeemable cumulative preference shares aggregating Rs. 155 crores, is subject to the consent of the shareholders and RBI permission. The shareholders' consent will be sought in the AGM to be held on June 17, the company said in a statement.
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