Rs29-crore rights and public issue by Dagger Forst Tools Limited

Mumbai: 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.

The 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.

Dagger 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.