Orient Green Power Company Ltd approves raising of Rs. 250 crores

The Board of Directors of Orient Green Power Company Ltd at its meeting held on August 19, 2015, has approved the raising of INR 250 crores by way of equity shares on a preferential basis at a price as per SEBI ICDR Regulations. The existing promoter, SVL Limited (formerly known as M/s. Shriram Industrial Holdings Limited) and / or its subsidiaries will subscribe to shares equivalent to INR 150 Crores. Further, EW Special Opportunities Fund II Pte. Limited, Ecap Securities Limited and Forefront Capital Management Pvt. Ltd. shall be subscribing to shares equivalent to INR 100 Crores. The above issue is subject to the approval of the shareholders and other regulatory approvals, if any.

Shares of ORIENT GREEN POWER COMPANY LTD. was last trading in BSE at Rs.13.88 as compared to the previous close of Rs. 14.12. The total number of shares traded during the day was 216923 in over 484 trades.

The stock hit an intraday high of Rs. 14.3 and intraday low of 13.75. The net turnover during the day was Rs. 3034610.

Source : Equity Bulls

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