Surana Telecom and Power Ltd approves raising funds

The Board of Directors of Surana Telecom and Power Ltd at its meeting held on August 08, 2014, has approved proposal to convene the 25th Annual General Meeting and fix the book closure.

The Board approved to borrow money in excess of paid-up capital and free reserves under section 180 (1)(c) of Companies Act, 2013, subject to approval of members.

The Board approved issue of Global Depository Receipts (GDRs)/ American Depositary Receipts (ADRs) convertible in to equity shares/ Foreign Currency Convertible Bonds (FCCB) and/or Qualified Institutional Placement (QIP) and/or Optionally or Compulsorily Convertible Redeemable Preference Shares (OCPS/CCPS) for an amount of upto US$ 30.00 Millions or its equivalent in Indian Rupees or any other currency, subject to approval of members.

Shares of Surana Telecom And Power Limited was last trading in BSE at Rs.27.9 as compared to the previous close of Rs. 26.9. The total number of shares traded during the day was 13129 in over 69 trades.

The stock hit an intraday high of Rs. 28.2 and intraday low of 27.2. The net turnover during the day was Rs. 367020.

Source : Equity Bulls

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