JBM Auto Ltd board approves proposal for issuance of securities for an amount not exceeding Rs. 500 crores

The Board of Directors of JBM Auto Ltd has passed an enabling resolution for the purpose of fund raising for an aggregate amount not exceeding Rs. 500 Crore (Rupees Five Hundred Crore only) subject to the shareholders' approval in the ensuing Annual General Meeting of the Company.

The board has authorized the Key Managerial Personnel(s) of the Company to decide and finalize the terms of the issue of securities for fund raising through various options / instruments etc. through further public offering / private placement basis / qualified institutional placement ("QIP") etc.

Shares of JBM AUTO LTD. was last trading in BSE at Rs.230 as compared to the previous close of Rs. 229.75. The total number of shares traded during the day was 2136 in over 185 trades.

The stock hit an intraday high of Rs. 237.25 and intraday low of 229.8. The net turnover during the day was Rs. 501088.

Source : Equity Bulls

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