The Hindu Business Line : TAC to issue shares to South Indian Bank

TUTICORIN Alkali Chemicals & Fertilisers Ltd (TAC) has informed the stock exchanges that the Board of Directors of the company at its meeting held on Monday has approved issue of 5,62,430 equity shares with face value of Rs 10/- each on preferential basis to The South Indian Bank Ltd, Trissur, at the rate of Rs 17.78/- per share in line with the Provisions of Preferential issue Guidelines, 2000, subject to approval of the members of the company at its meeting to be held on January 18, 2006.

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