Pricol Ltd to issue securities

The Board of Directors of Pricol Ltd at its meeting held on September 24, 2014, has considered and approved, subject to necessary approval from the shareholders and all the requisite approvals as may be required, by way of special resolution: Further Issue of equity shares or other securities under sections 23, 42 and 62(1)(c) of the Companies Act, 2013, through public and / or private offerings to any eligible Investor, including but not limited to Qualified Institutional Buyers or such other form as may be permissible, under applicable law, [for an amount not exceeding Rs. 1,250 million].

The Board by way of ordinary resolution approved increase in the authorised share capital of the Company from Rs. 100 million to Rs. 120 million and subsequent changes In the Memorandum of Association of the Company.

Shares of PRICOL LTD. was last trading in BSE at Rs.56.9 as compared to the previous close of Rs. 62.65. The total number of shares traded during the day was 207721 in over 4393 trades.

The stock hit an intraday high of Rs. 63.85 and intraday low of 54.2. The net turnover during the day was Rs. 11910985.

Source : Equity Bulls

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