Marg to raise Rs.500 crores through QIP

The Board of Directors of Marg Ltd at its meeting held on October 10, 2012, has approved that subject to the approval of the Shareholders of the Company and other statutory approvals as may be required, to make Qualified Institutional Placement (QIP) of eligible securities upto Rs. 500 Crores by issue of equity shares and/or any securities convertible into Equity Shares, with or without warrants, in one or more tranches, to Qualified Institutional Buyers in accordance with Chapter VIII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable provisions, if any.

The Marg Ltd. stock was trading at Rs.81, up by Rs.1.80 or 2.27%. The stock hit an intraday high of Rs.81.50 and low of Rs.80.

The total traded quantity was 8586 compared to 2 week average of 51230.

Source : Equity Bulls

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