Date:27/05/2005 URL: http://www.thehindubusinessline.com/2005/05/27/stories/2005052701480500.htm

Back Surana Tele promoters shed 2.12 pc stake

Our Bureau

HYDERABAD: Mr Devender Surana along with persons acting in concert have sold about 2.12 per cent shares in the Surana Telecom Ltd during May, according to a statement filed with the National Stock Exchange.

The Director of Surana Telecom, Mr Devender Surana, said that the move was part of the exercise to bring down the promoters shareholding to 55 per cent as per guidelines.

The company's board meeting has been convened early next month to finalise plans for a preferential offer. This could be to a foreign institutional institution. Details would be announced later, Mr Surana said.