Electrosteel Castings Ltd approves preferential issue of 2,74,72,526 Equity Shares

The Board of Directors of Electrosteel Castings Ltd, at its meeting held today, have approved the proposal for raising of funds by issuance of 2,74,72,526 Equity Shares, of face value of Re. 1/- each, on a Preferential Basis, subject to the approval of the Members in the ensuing Annual General Meeting of the Company.

The issue price of the above preferential issue is Rs. 18.20 per Equity Share (including a premium of Rs. 17.20 per Equity Share).

Sree Khemisati Constructions Pvt Ltd, Global Exports Ltd, Mayank Kejriwal, Asha Kejriwal and Belgrave Investment Fund are the investors for the above preferential issue.

Shares of ELECTROSTEEL CASTINGS LTD. was last trading in BSE at Rs.14.26 as compared to the previous close of Rs. 14.85. The total number of shares traded during the day was 2513 in over 27 trades.

The stock hit an intraday high of Rs. 14.94 and intraday low of 14.13. The net turnover during the day was Rs. 36612.

Source : Equity Bulls

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