Shree Pushkar Chemicals and Fertilisers Ltd approves issue of securities

The Board of Directors of Shree Pushkar Chemicals and Fertilisers Ltd in their meeting held today, which was started at 3.00 p.m. and concluded at 8.15 p.m. has considered, discussed and approved the proposal to issue and allot 1,12,572 Equity Shares of Rs. 10/- each in consideration of acquisition of equity shares of Kisan Phosphates Private Limited under Memorandum of Understanding dated September 15, 2017 on a preferential basis to Mr. Raghav Makharia & Mrs. Aradhana Makharia (Shareholders of Kisan Phosphates Private Limited and members of Promoter & Promoter Group) at an Issue Price of Rs. 208.10/-.

The board also approved proposal to issue and allot warrants of an Investment aggregating upto Rs.15,00,00,000/- (Rupees Fifteen Crores), convertible into Equity Shares for cash, at an Issue Price of Rs. 208.10/- each, on a preferential basis to members of Promoter and Promoter Group of the Company.

Shares of Shree Pushkar Chemicals & Fertilisers Ltd was last trading in BSE at Rs.216.05 as compared to the previous close of Rs. 200.9. The total number of shares traded during the day was 30679 in over 608 trades.

The stock hit an intraday high of Rs. 217 and intraday low of 200.55. The net turnover during the day was Rs. 6419494.

Source : Equity Bulls

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