Shriram EPC Ltd Board approves issue of 5378688 shares

The Board of Directors of Shriram EPC Ltd at its meeting held on March 24,2 017 has approved the issue of 53,78,688 equity shares on preferential basis in terms of ICDR Regulations on Conversion of the Working Capital Term loan (WCTL) to CDR Lenders (as per CDR Package) based on final reconciliation.

The Board approved preferential issue to a Private Limited Company for an amount not exceeding Rs. 35 crores subject to shareholders and other regulatory approvals, at a price to be determined as per regulations.

The Board will seek approval for Alteration of Memorandum of Association of the Company consequent to the increase in Authorised Share Capital of the Company and for Alteration of Articles of Association of the Company.

The Board will seek shareholders approvals for above.

Shares of SHRIRAM EPC LTD. was last trading in BSE at Rs.28.75 as compared to the previous close of Rs. 26.9. The total number of shares traded during the day was 224149 in over 1398 trades.

The stock hit an intraday high of Rs. 29.8 and intraday low of 27.95. The net turnover during the day was Rs. 6515917.

Source : Equity Bulls

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