Pratap Sugar to set up 2 plants in UP
Pratappur Sugar and Industries Ltd on Monday said it will invest Rs 695 crore for setting up two greenfield sugar plants in eastern Uttar Pradesh.
By PTI |
MUMBAI: Pratappur Sugar and Industries Ltd on Monday said it will invest Rs 695 crore for setting up two greenfield sugar plants in eastern Uttar Pradesh.
The board, in its meeting held on Monday, approved the setting up of two greenfield sugar plants with an aggregate cane crushing capacity of 27,000 tonnes per day, the company informed the Bombay Stock Exchange.
The proposal to set up 160 kilo litre per day distillery with industrial alcohol and ethanol manufacturing capacity was also approved by the board, it said.
The board also approved the issue of 38 lakh warrants to its promoter Bajaj Hindusthan Ltd. The warrants carry a right to subscribe for one equity share of the face value Rs 10 each, per warrant, at a price of Rs 500 each (including premium of Rs 490).
The right is exercisable within 18 months from the date of allotment.
The shares of the company closed at Rs 356.35, up 1.71 per cent at the BSE.
The board, in its meeting held on Monday, approved the setting up of two greenfield sugar plants with an aggregate cane crushing capacity of 27,000 tonnes per day, the company informed the Bombay Stock Exchange.
The proposal to set up 160 kilo litre per day distillery with industrial alcohol and ethanol manufacturing capacity was also approved by the board, it said.
The board also approved the issue of 38 lakh warrants to its promoter Bajaj Hindusthan Ltd. The warrants carry a right to subscribe for one equity share of the face value Rs 10 each, per warrant, at a price of Rs 500 each (including premium of Rs 490).
The right is exercisable within 18 months from the date of allotment.
The shares of the company closed at Rs 356.35, up 1.71 per cent at the BSE.
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