Deepak Nitrite Ltd approves fund raising through QIP

The Board of Directors of Deepak Nitrite Ltd at its meeting held on January 22, 2015, has considered and approved the raising of funds by way of a Qualified Institutions Placement of equity shares in accordance with the provisions of Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time and other applicable laws, up to an amount not exceeding Rs. 200 Crores, subject to the approval of members of the Company.

The Board will also consider proposal to conduct Postal Ballot for obtaining the authority / approval of the members of the Company for raising funds by way of a Qualified institutions Placement as mentioned above.

Shares of DEEPAK NITRITE LTD. was last trading in BSE at Rs.81.35 as compared to the previous close of Rs. 81.2. The total number of shares traded during the day was 100841 in over 2798 trades.

The stock hit an intraday high of Rs. 86.1 and intraday low of 79.55. The net turnover during the day was Rs. 8330781.

Source : Equity Bulls

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