Kesar Petroproducts Ltd to raise Rs. 12 crores

The Board of Directors of Kesar Petroproducts Ltd at its meeting held on December 04, 2014, has considered abd decided to raise funds upto Rs. 12.00 Crores by offering and issue of 24.00 Lacs Warrants carrying an option/entitlement to subscribe for equivalent number of Equity Shares of Rs. 10/- each at such price as may be determined as per the provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 on preferential basis to persons other than promoters to meet long term and working capital requirements, subject to the approval of the shareholders of the Company under Section 62 of the Companies Act, 2013.

The Board decided to seek the approval of shareholders of the Company for the same by convening an Extra Ordinary General Meeting on January 17, 2015.

Shares of KESAR PETROPRODUCTS LTD. was last trading in BSE at Rs.54.3 as compared to the previous close of Rs. 53.25. The total number of shares traded during the day was 154 in over 14 trades.

The stock hit an intraday high of Rs. 54.3 and intraday low of 54.3. The net turnover during the day was Rs. 8362.

Source : Equity Bulls

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