Udaipur Cement Works Ltd to approve preferential issue to JK Lakshmi Cement Ltd

A meeting of the Board of Directors of Udaipur Cement Works Ltd will be held on March 28, 2014, to consider and approve further issue and allotment of Securities on preferential basis to JK Lakshmi Cement Ltd., a Promoter Company, in terms of the BIFR Sanctioned Rehabilitation Scheme of the Company.

The company will consider allotment of 8,25,00,000 Equity Shares of Rs. 4 each aggregating Rs. 33 crores and 4,50,00,000, 5% Optionally Convertible Cumulative Redeemable Preference Shares of Rs. 10 each, aggregating Rs. 45 crores.

Shares of UDAIPUR CEMENT WORKS LTD. was last trading in BSE at Rs.5.99 as compared to the previous close of Rs. 5.18. The total number of shares traded during the day was 3928 in over 57 trades.

The stock hit an intraday high of Rs. 5.99 and intraday low of 5.26. The net turnover during the day was Rs. 21722.

Source : Equity Bulls

Keywords