Patel Engineering Ltd announces issue of OCPS to promoter

Patel Engineering Ltd has announced the issue of 53,99,66,397 (Fifty three crores ninety nine lakhs sixty six thousand three hundred ninety seven) Optionally Convertible Preference Shares (OCPS) of Re. 1 each convertible into 2,97,99,470 (Two core Ninety seven lakhs ninety nine thousand four hundred and seventy) Equity Shares of the Company to Praham India LLP ('the Promoter').

Shares of PATEL ENGINEERING LTD. was last trading in BSE at Rs.9.25 as compared to the previous close of Rs. 9.3. The total number of shares traded during the day was 50864 in over 259 trades.

The stock hit an intraday high of Rs. 10.05 and intraday low of 9.2. The net turnover during the day was Rs. 492342.

Source : Equity Bulls

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