MSP Steel & Power Ltd to issue 1,00,00,000 shares

The Board of Directors of MSP Steel & Power Ltd at its meeting held on March 31, 2012, have considered and approved issue of 1,00,00,000 Equity Shares of Rs. 10/- each at a price not less than the price as determined in accordance with SEBI (Issue Of Capital and Disclosure Requirements) Regulations, 2009 to promoters and non-promoter on preferential basis.

Further, the Board of Director has authorized Ms. Pinky Gupta, the Company Secretary of the Company to take further steps for taking approval of the shareholders for all the aforesaid matters including the finalization of the Notice to shareholders.

The MSP Steel & Power Ltd stock was trading at Rs.31.75. The stock hit an intraday high of Rs.32.40 and low of Rs.31.40.

The total traded quantity was 6774 compared to 2 week average of 16201.

Source : Equity Bulls

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