Board of Directors of Peninsula Land Limited pass a resolution approving issue of fresh capital by way of Equity Offering

Mumbai, June 9, 2006: The Board of Directors of Peninsula Land Limited (PLL), the flagship company of The Ashok Piramal Group and a prominent real estate developer today approved raising of capital by way of issuance of upto 60 lacs fresh equity shares.

Raising of additional funds could be achieved through a Qualified Institutional Placement (QIP) OR follow-on public issue OR Private Placement OR a combination thereof.

Commenting on this strategic move, Mrs. Urvi Piramal, Chairperson, Peninsula Land Limited said that, "Peninsula Land Limited is committed towards creating a strong land bank. As a move in this direction, in the past couple of months we have added approx. 10 million sq.ft of land bank. By way of this issuance we will strengthen ourselves further in adding and creating a stronger and bank for the future" << Back