Marg Constructions to raise about Rs 938 cr
Marg Constructions on Wednesday said it will raise about Rs 938 crore through issue of securities to promoters and institutional investors.
By PTI |
MUMBAI: Marg Constructions on Wednesday said it will raise about Rs 938 crore through issue of securities to promoters and institutional investors.
The firm would allot 97 lakh warrants worth Rs 437.71 crore to five promoters; G R K Reddy, G Raghava Reddy, Marg Capital Markets Ltd, Global Infoserv Ltd and G R K Reddy and Sons (HUF).
Each warrant would be given at a price of Rs 415.25, it said in a filing to the Bombay Stock Exchange.
Further, the company would raise up to Rs 500 crore by way of allotment of shares to Qualified Institutional Buyers.
These proposals were approved by the shareholders during the Extra Ordinary General Meeting (EGM) held on March 5.
Shares of the company closed at Rs 359.25, down five per cent on the BSE.
The firm would allot 97 lakh warrants worth Rs 437.71 crore to five promoters; G R K Reddy, G Raghava Reddy, Marg Capital Markets Ltd, Global Infoserv Ltd and G R K Reddy and Sons (HUF).
Each warrant would be given at a price of Rs 415.25, it said in a filing to the Bombay Stock Exchange.
Further, the company would raise up to Rs 500 crore by way of allotment of shares to Qualified Institutional Buyers.
These proposals were approved by the shareholders during the Extra Ordinary General Meeting (EGM) held on March 5.
Shares of the company closed at Rs 359.25, down five per cent on the BSE.
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