TCPL Packaging Ltd approves issue of 4 lakh shares

The meeting of the Board of Directors of TCPL Packaging Ltd was held today at 11.00 a.m. and concluded at 11.45 a.m. The Board of Directors have approved to issue, offer and allot 4,00,000 (Four Lakhs) equity shares of the Company of the face value of Rs. 10 (Rupees Ten) each (Equity Shares) at a price of Rs. 600 (Rupees Six Hundred) (including premium of Rs. 590 (Rupees Five Hundred Ninety) per Equity Share on a preferential basis through private placement, for a total consideration of Rs. 24,00,00,000 (Rupees Twenty Four Crores).

The Board has also decided to hold Extra Ordinary General Meeting of the members of the Company on 9th August, 2017 at 5.30 p.m. or immediately after the conclusion of 29th Annual General Meeting of the Company, whichever is earlier, at Sunville Deluxe Pavilion, 9 Dr. Annie Besant Road, Worli, Mumbai 400 018, for passing necessary special resolution. The cutoff date for determining the members eligible for e-voting is 2nd August, 2017.

Shares of TCPL PACKAGING LTD. was last trading in BSE at Rs.692.4 as compared to the previous close of Rs. 684.1. The total number of shares traded during the day was 57198 in over 1468 trades.

The stock hit an intraday high of Rs. 728 and intraday low of 653.25. The net turnover during the day was Rs. 39700302.

Source : Equity Bulls

Keywords