Uniply Industries Ltd approves fund raising of Rs. 500 crores

The Board of Directors of Uniply Industries Ltd at its meeting held on today (March 16, 2017), has considered and approved to raise fund of upto Rs. 500.00 crores pursuant to by way of making one or more offer(s) or invitation(s) to subscribe to secured or unsecured Bonds / Non-Convertible Debentures (NCDs)/other Debt Securities of uptoRs. 500.00 crores (Rupees Five Hundred Crores), on private placement basis to the eligible investor(s), in one or more tranches, on such terms and conditions as the Board of Directors of the Company may, from time to time, determine and consider proper and most beneficial to the Company, including as to when the said Bonds / Debentures / other Debt Securities be issued, the consideration for the issue, utilization of the issue proceeds and all matters connected with or incidental thereto, during a period of one year from the date of passing of Special Resolution by the shareholders.The issue shall be in compliance with the provision of section 42 and 71 of the companies Act, 2013 and any other applicable provisions if any. The proposed borrowings shall be within the overall borrowing limits of the company, as approved by the members, from time to time.

The details of eligible investors, agencies involved and terms & conditions of the aforesaid issue(s) shall be announced from time to time.

The Board has proposed and considered to seek shareholders' approval towards the aforesaid fund raising through Postal Ballot process.

The Meeting started at 10.00 a.m. and concluded at 1l.30 a.m.

Shares of UNIPLY INDUSTRIES LTD. was last trading in BSE at Rs.336 as compared to the previous close of Rs. 321.6. The total number of shares traded during the day was 17572 in over 115 trades.

The stock hit an intraday high of Rs. 337 and intraday low of 320. The net turnover during the day was Rs. 5768990.

Source : Equity Bulls

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