Sintex Industries to raise US$ 300 Million

Sintex Industries Ltd has announced that the Board of Directors of the Company at its meeting held on November 30, 2007, has passed a resolution authorizing an issue of FCCB's / GDRs / ADRs / QIP aggregating up to USD 300 millions and resolution authorizing the Board to issue 1,32,00,000 nos. warrants to promoters on Preferential Allotment basis as per SEBI guidelines and other applicable rules & regulations.

The stock closed on Friday at Rs.458.70, down by Rs.3.80 or 0.82%. The stock hit an intraday high of Rs.469.45 and low of Rs.453.20.

The total traded quantity was 33285 compared to 2 week average of 106977.

Source : Equity Bulls

Keywords