JMC Projects (India) Ltd approves raising of Rs. 160 crores through Right Issue

The Board of Directors of JMC Projects (India) Ltd at its meeting held on September 11, 2015, has considered and approved raising of funds upto Rs. 160/- crores by way of offer and issue of equity shares to the existing shareholders of the Company on a rights basis (Rights Issue).

The Board or Committee of Directors as authorized for the purpose shall determine the terms of the Rights Issue including the rights entitlement ratio, issue price, issue size, book closure or record date, entitlement, timing of the issue etc in consultation with the Lead Manager to the Right Issue and to decide all other matters relating to the Right Issue. Such details shall be informed and/or announced in due course as and when decided or required, as per applicable statutory provisions.

The above proposals to issue of shares shall be subject to necessary approvals, confirmation and consents as may be necessary and in compliance with applicable law including the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the Companies Act, 2013.

Shares of JMC PROJECTS (INDIA) LTD.-$ was last trading in BSE at Rs.205.9 as compared to the previous close of Rs. 199. The total number of shares traded during the day was 3007 in over 205 trades.

The stock hit an intraday high of Rs. 211 and intraday low of 201.1. The net turnover during the day was Rs. 622945.

Source : Equity Bulls

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