Bannari Amman Spinning Mills Ltd to raise upto Rs. 150 crores

The Board of Directors of Bannari Amman Spinning Mills Ltd, at their meeting held today i.e., 19.4.2023, has approved raising of funds by way of issue of equity shares or any other instrument or security including fully/partly convertible debentures through Rights issue or qualified institutions placement or private placement/public issue of equity/debt securities or preferential issue or through any other permissible mode and/or combination thereof as may be considered appropriate, subject to such approvals as may be required including the approval of the members at a general meeting or through postal ballot or through e-voting and further subject to such other statutory/regulatory approvals, as applicable for an aggregate amount of, upto Rs.150 Crores (Rupees One Hundred and Fifty crores).

In this connection the Board authorized the Managing Director to initiate necessary steps in furtherance of the above proposals.

Shares of Bannari Amman Spinning Mills Limited was last trading in BSE at Rs. 40.51 as compared to the previous close of Rs. 42.21. The total number of shares traded during the day was 10094 in over 284 trades.

The stock hit an intraday high of Rs. 43.00 and intraday low of 40.30. The net turnover during the day was Rs. 417536.00.

Source : Equity Bulls

Keywords

BannariAmmanSpinningMills INE186H01022 FundRaising