Raipur Alloys raises Rs 85 cr via pref
Steel and sponge iron maker Raipur Alloys on Monday said it has raised Rs 85 crore through preferential issue of equity shares to investors.
By PTI |
MUMBAI: Steel and sponge iron maker Raipur Alloys on Monday said it has raised Rs 85 crore through preferential issue of equity shares to investors such as LB India Holdings Mauritius and Infrastructure Development Finance Company (IDFC).
The board of directors at its meeting recently approved the allotment of more than 26.31 lakh equity shares to LB India Holdings Mauritius II Ltd and over 18.42 lakh shares to IDFC at Rs 190 per share on preferential basis.
The company also issued over 2.63 lakh equity share warrants to SAB Trading Pvt Ltd, giving them a right to subscribe to equivalent number of equity shares at a premium of Rs 180 each within a period of 18 months, the company informed the Bombay Stock Exchange.
It also alloted 1.95 crore equity shares to shareholders of Chhattisgarh Electricity Company (CEC) and Raipur Gases, pursuant to the latter's merger with itself. Over 30.72 lakh equity shares held by CEC were cancelled, Raipur Alloys added.
The board of directors has also approved the change in the company's name to "Sarda Energy & Minerals Ltd".
Shares of Raipur Alloys were trading at Rs 252.05, down 1.82 per cent on BSE in morning trade.
The board of directors at its meeting recently approved the allotment of more than 26.31 lakh equity shares to LB India Holdings Mauritius II Ltd and over 18.42 lakh shares to IDFC at Rs 190 per share on preferential basis.
The company also issued over 2.63 lakh equity share warrants to SAB Trading Pvt Ltd, giving them a right to subscribe to equivalent number of equity shares at a premium of Rs 180 each within a period of 18 months, the company informed the Bombay Stock Exchange.
It also alloted 1.95 crore equity shares to shareholders of Chhattisgarh Electricity Company (CEC) and Raipur Gases, pursuant to the latter's merger with itself. Over 30.72 lakh equity shares held by CEC were cancelled, Raipur Alloys added.
The board of directors has also approved the change in the company's name to "Sarda Energy & Minerals Ltd".
Shares of Raipur Alloys were trading at Rs 252.05, down 1.82 per cent on BSE in morning trade.
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