GMR Industries recommends 10% dividend, to acquire Alagawadi Bireshwar Sugars

GMR Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 03, 2008, inter alia, has recommended a 10% equity dividend and 8% fixed dividend on preference shares.Decided to acquire M/s Alagawadi Bireshwar Sugars Pvt Ltd., a Company which holds a license to set up and operate a 3500 TCD Sugar Mill at Raibagh in Karnataka.Approved the shifting of the Company's Registered Office from Hyderabad to Bangalore, subject to approval of the Members and confirmation of the Company Law Board.