CMI Ltd approves preferential issue

The Board of Directors of CMI Ltd at its meeting held on September 10, 2014, has decided / approved the issue of 18,00,000 Equity Shares having face value of Rs. 10/- each, on preferential basis, to Non promoters and 15,00,000 Warrants convertible into equal number of equity shares of Rs. 10 /- each to the promoters and the relevant date on which price is to be calculated shall be determined in accordance with Chapter VII of the SEBI (ICDR) Regulations, 2009.

The issue is subject to approval of shareholders through postal ballot.

Shares of CMI LTD. was last trading in BSE at Rs.61.75 as compared to the previous close of Rs. 61.2. The total number of shares traded during the day was 3920 in over 103 trades.

The stock hit an intraday high of Rs. 64.25 and intraday low of 58.15. The net turnover during the day was Rs. 236522.

Source : Equity Bulls

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