Further to the September 21 notice, Steel Strips Wheels on Tuesday informed the exchanges that Kalink Co has confirmed it will subscribe to the company’s equity shares ₹640 apiece for $2 million. The board of directors of Steel Strips will consider the proposal in the next board meeting to be held in October. Kalink, a South Korea-based corporation, is an alloy wheel manufacturing major having facilities at Korea and China with a total capacity of 4.5 million wheel rims per annum. Kalink’s clientele include Volkswagen, Nissan and Chrysler. Shares of Steel Strips tumbled 4.1 per cent at ₹326 on the NSE.

Asian Oilfield Services has informed the exchange of its bagging a ₹13-crore order from Jubilant Oil & Gas Pvt Ltd with Gail India as Block Partner. The company has received a contract for 140.5 Fulford line kilometre of 2D seismic data acquisition and basic processing in Tripura. Shares of Asian Oilfield closed at ₹54.1, up 0.46 per cent over the previous close, on the BSE.

Energy Development Company on Tuesday said it will seek shareholders’ approval in the extra-ordinary general meeting to be held next month to raise ₹44 crore. The board has approved issue of two crore shares of ₹10 each at ₹22 a share on preferential basis to non-promoters or promoters of the company. According to the statement, the board approved and authorised the holding of EGM on October 24. Shares of Energy Development surged 4.84 per cent at ₹27.10 on the BSE.

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