Rajshree Sugars & Chemicals Ltd calls for Board Meeting on April 29, 2016

A meeting of the Board of Directors of Rajshree Sugars & Chemicals Ltd will be held on April 29, 2016, to consider the preferential allotment of 17,66,429 equity shares at a price of Rs. 28/- each (including a premium of Rs.18/-) to Ms.Rajshree Pathy, Chairperson and Managing Director and 14,28,571 equity shares at a price of Rs.28/- each (including a premium of Rs.18/-) to M/s.RSCL Properties Private Limited. The aforesaid shares will be issued after necessary approvals, by converting the unsecured loan of Rs.4,94,60,000/- brought-in by Ms.Rajshree Pathy and Rs.4,00,00,000/- brought in by M/s.RSCL Properties Private Limited as promoters' contribution under CDR Scheme.

The aforesaid allotment will be subject to approval of the shareholders for the CDR Scheme and Preferential issue of equity shares.

Shares of RAJSHREE SUGARS & CHEMICALS LTD. was last trading in BSE at Rs.50.35 as compared to the previous close of Rs. 54. The total number of shares traded during the day was 24498 in over 257 trades.

The stock hit an intraday high of Rs. 54.75 and intraday low of 48.5. The net turnover during the day was Rs. 1254836.

Source : Equity Bulls

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