Triveni Engineering to raise upto Rs 250 Crores

Triveni Engineering & Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 14, 2007, inter-alia, to consider an item to seek approval of the shareholders for issuance of securities including FCCBs, debentures / bonds or any other instrument convertible into equity shares through public issue or private placement (including placement with QIBs) in accordance with SEBI guidelines and other applicable laws.

The proposed issue will be in addition to and over & above the decision of the Board to seek approval of the shareholders at a general meeting for issuance of securities upto an amount not exceeding Rs 250 crores (Rupees Two hundred fifty crores only) in the aggregate including premium by way of equity shares, equity shares through depository receipts, preference shares etc.

The Stock was trading at Rs.132.95, up by Rs.6.05 or 4.77%. The stock hit an intraday high of Rs.135.90 and low of Rs.128.10. The total traded quantity was 201623 compared to 2 week average of 1006294.

Source : Equity Bulls

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