Lloyd Electric & Engineering Ltd to raise up to Rs. 250 crores

The Board of Directors of Lloyd Electric & Engineering Ltd in its meeting held on December 22, 2014 has considered and approved the raising of funds for an amount not exceeding Rs. 250 crores through issue of securities through Qualified Institutional Placement (QIP).

The Board also approved the proposal to increase the authorized share capital of the company from Rs. 50 crores to Rs. 70 crores.

The Board also approved proposal to conduct postal ballot for obtaining the shareholder's approval for the above proposals.

Shares of LLOYD ELECTRIC & ENGINEERING LTD. was last trading in BSE at Rs.127.5 as compared to the previous close of Rs. 127.2. The total number of shares traded during the day was 38369 in over 1391 trades.

The stock hit an intraday high of Rs. 130 and intraday low of 127. The net turnover during the day was Rs. 4911017.

Source : Equity Bulls

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