Sree Rayalaseema Alkalies & Allied Chemicals Ltd seeks AGM nod for preferential issue

The Board of Directors of Sree Rayalaseema Alkalies & Allied Chemicals Ltd at its meeting held on August 17, 2015, has decided to recommend appropriate Special Resolution for Members approval at the Annual General Meeting for Issue and allotment of 1,30,95,272 convertible warrants to the Promoter (M/s. Brilliant Industries Pvt. Ltd.) at an issue price of Rs. 17.02 per warrant (including premium of Rs. 7.02 per warrant) to be converted into Equity Shares in the ratio of 1:1 within 18 months of issue.

Shares of SREE RAYALASEEMA ALKALIES & ALLIED CHEMICALS LTD. was last trading in BSE at Rs.15.2 as compared to the previous close of Rs. 15.7. The total number of shares traded during the day was 354891 in over 388 trades.

The stock hit an intraday high of Rs. 16.2 and intraday low of 15. The net turnover during the day was Rs. 5456986.

Source : Equity Bulls

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