Diamond Cables to raise Rs 38.47 cr
Diamond Cables Ltd on Friday said it will raise Rs 38.47 crore through the issue of 7.50 lakh equity shares, eight lakh equity warrants and allotment of 25 lakh convertible debentures to the promoters group.
By PTI |
MUMBAI: Leading manufacturer of aluminium conductors, Diamond Cables Ltd on Friday said it will raise Rs 38.47 crore through the issue of 7.50 lakh equity shares, eight lakh equity warrants and allotment of 25 lakh convertible debentures to the promoters group.
The shareholders at the EGM held on Friday approved the issue of 7.50 lakh equity shares at a price of Rs 95 to the promoters group, the company informed the Bombay Stock Exchange.
The company would also issue, eight lakh equity warrants convertible into equal number of equity shares within 18 months at a price of Rs 95 to Clearwater Capital Partner (Cyprus) Ltd, and Brescon Corporate Advisors Ltd, it added.
Diamond Cables, would allot 25 lakh fully convertible debentures to be converted into equal number of equity shares within 18 months at a price of Rs 95 to Clearwater Capital Partner (Cyprus) Ltd, it said.
The shares of the company were trading unchanged from its previous close of Rs 67 at the BSE.
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