Dagger Forst Tools Limited (BSE: 505426), part of the Rs1,700-crore
Yash Birla Group and a leading player in machine tools sector, today announced
a change in the ratio of its proposed rights issue decided on April 28, 2005.
board of directors met, which met yesterday, has now decided to come out with
rights and public issues, of an aggregate value not exceeding Rs29 crore,
at a ratio and price to be decided by the committee appointed by the board
in consultation with the company's merchant bankers, subject to statutory
and members approvals.
Forst Tools Limited (DFTL) manufactures specialised cutting tools like broaches,
broach sharpening machine, gauges, slitting saws, index plates, master gears,
spline mandrels, gear hobs,
gear shaper cutters and gear shaving cutters, used in the automobile and auto
component industry, railway and other government undertakings.