Mold-Tek to set up units in UAE.

Hyderabad-based Mold-Tek Packaging Limited has decided to set up new plants in the United Arab Emirates and two plants in India apart from expanding the existing tool room, FMCG and food packaging capacities.

The company informed the BSE that its board, which met on Wednesday, had also decided to increase authorised capital from Rs. 13.5 crore to Rs. 14.5 crore and to raise funds not exceeding Rs. 60 crore through issuance of securities including equity shares or equity linked securities.

In this regard, the company would be convening an extraordinary general meeting on December 24, 2014, to obtain shareholders' consent. It had appointed Ashish Kumar Gaggar, a practicing company secretary, as scrutiniser to conduct voting.

BS