Temptation Foods to issue securities

Temptation Foods Ltd has announced that the shareholders at the Annual General Meeting (AGM) of the Company held on June 18, 2007, have approved issue of securities (including FCBs) up to Rs 150 crores under Chapter XIIIA of SEBI (Disclosure and investor Protection) Guidelines, 2000.

Since under the Chapter XIIIA of SEBI (DIP) guidelines referred to above, the amount that can be raised is limited to five times of the net worth of the Company as per the audited accounts of immediately preceding year, the amount that would be raised under this issue would be limited to Rs 114 crores.

The stock closed the day at Rs.115.40, up by Rs.5.45 or 4.96%. The stock hit an intraday high of Rs.115.40 and low of Rs.115.40. The total traded quantity was 2700 compared to 2 week average of 70330.

Source : Equity Bulls

Keywords