Compact Disc cancels Rights issue

Compact Disc India Ltd has informed that keeping in view a very healthy financial position and adequate cash liquidity to meet its all current expansion plans, the Company has decided to cancel its proposed Right Issue Offer with immediate effect.

The Company has also revised its financial projections for the fiscal year 2007-08. The Company will comfortably achieve sales turnover of over Rs 100.00 crore compare to a projected sale figure Rs 85.00 for the current financial year.