Rishi Laser to raise funds through issue of securities

Rishi Laser Cutting Ltd has announced that the Board of Directors of the Company at its meeting held on September 08, 2007, has taken the following decisions:

1. Issue of Securities for an amount upto Rs 50/- crores by offering in Domestic / Foreign Market.

2. Increase in borrowing powers - from Rs 75 crores to Rs 150 crores.

3. Increase in Authorised Capital from Rs 10 crores to Rs 15 Crores.

Further the Company has informed that, all the above matters are subject to the approval of the Members in the Extra Ordinary General Meeting of the Company which will be held on October 08, 2007.

The stock was trading at Rs.87, up by Rs.0.90 or 1.05%. The stock hit an intraday high of Rs.87 and low of Rs.83.50. The total traded quantity was 26887 compared to 2 week average of 52353.

Source : Equity Bulls

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