Minda Corporation Ltd approves fund raising proposal of upto Rs. 600 crores

The Board of Directors of Minda Corporation Limited (the "Company"), at its meeting held today, i.e. Friday, June 2, 2023, has considered and approved the proposal of raising of funds by way of further issuance of securities through public and/or private offerings including preferential issue, qualified institutions placement, further public offer or any of the permissible modes (in one or more tranches), for an aggregate amount not exceeding INR 600 Crores (Rupees Six Hundred Crores only), in accordance with the relevant provisions of applicable law and subject to approval of the Company's shareholders and receipt of applicable regulatory approvals.

Shares of Minda Corporation Limited was last trading in BSE at Rs. 298.35 as compared to the previous close of Rs. 283.05. The total number of shares traded during the day was 246467 in over 4797 trades.

The stock hit an intraday high of Rs. 300.00 and intraday low of 282.65. The net turnover during the day was Rs. 72161870.00.

Source : Equity Bulls

Keywords

MindaCorporation INE842C01021 FundRaising PreferentialIssue QIP FPO