HMT Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2013, inter alia, have considered and approved the Increase in Authorised Share Capital of the Company from Rs. 1450 Crore to Rs. 2100 Crore subject to approval of the Government and Shareholders. The Board also approved the issue and allotment of fully paid redeemable cumulative 3.5% Preference Share Capital of the face value of Rs. 443 Cr. in favour of President of India as per the terms of sanction of the investment by Government.
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