Religare Enterprises Ltd approve preferential issue of Rs. 550 crores

The Board of Directors of Religare Enterprises Ltd on March 31, 2014 has approved the proposal for preferential allotment of Equity Shares of the Company amounting up to INR 550 Crores to Bestest Developers Private Limited and Standard Chartered Bank (Mauritius) Ltd, Non-Promoter Companies. Company will be obtaining approval of shareholders of Company for proposed preferential allotment through postal ballot.

Equity shares shall be allotted on preferential basis as per provisions of SEBl (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws and regulations.

Shares of RELIGARE ENTERPRISES LTD. was last trading in BSE at Rs.313 as compared to the previous close of Rs. 306.35. The total number of shares traded during the day was 41189 in over 1843 trades.

The stock hit an intraday high of Rs. 319.8 and intraday low of 301.95. The net turnover during the day was Rs. 12683184.

Source : Equity Bulls

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