Ceat Ltd to raise Rs. 500 crores

The Board of Directors of Ceat Ltd at its meeting held on August 26, 2014, subject to the approval of the shareholders of the Company at the ensuing Annual General Meeting, approved raising of an amount not exceeding Rs. 500.00 crores through further issue of securities including Equity Shares or Foreign Currency Convertible Bonds or American Depository Receipts or Global Depository Receipts or fully or partly convertible debentures, non convertible debentures, preference shares convertible into equity shares or any other equity linked securities, by way of one or more public or private offerings (including through a Qualified Institutions Placement) under applicable provisions of the Companies Act, 2013, Rules, Regulations, Guidelines and Circulars issued by the Securities and Exchange Board of India, applicable provisions of the Foreign Exchange Management Act, and the Rules, Regulations, Guidelines of the Reserve Bank of India, Government of India and the Listing Agreement entered into with the Stock Exchanges where the equity shares of the Company are listed, including amendments thereto.

Shares of CEAT LTD. was last trading in BSE at Rs.588.25 as compared to the previous close of Rs. 590.15. The total number of shares traded during the day was 229201 in over 7539 trades.

The stock hit an intraday high of Rs. 601 and intraday low of 579.85. The net turnover during the day was Rs. 135035157.

Source : Equity Bulls

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