Kewal Kiran raises Rs 80.60 Crores

Kewal Kiran Clothing Ltd has announced that the Company had raised Rs 80.60 Crores by issuing 31,000,37 Equity shares of Rs 10/- each at a premium of Rs 250/- per share. The proceeds from the said issue would be utilized for capital expenditure in setting up new manufacturing facilities, expansion of distribution network by opening additional exclusive outlets, building corporate office and to meet general corporate purposes.

The stock was trading at Rs.320.35, down by Rs.4.65 or 1.43%. The stock hit an intraday high of Rs.325 and low of Rs.315.

The total traded quantity was 526 compared to 2 week average of 485.

Source : Equity Bulls

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