Garden Reach Shipbuilders & Engineers Ltd approves increase in authorized share capital

The Board of Directors of Garden Reach Shipbuilders & Engineers Ltd. at its Meeting held on Tuesday, 26 Mar 2024 has approved the proposal for increase in the Authorized Share Capital of the Company from Rs. 1,25,00,00,000 (Rupees One Hundred Twenty-Five Crore only) divided into 12,50,00,000 (Twelve Crore and Fifty Lakh) equity shares of Rs. 10 (Rupees Ten only) each to Rs. 2,00,00,00,000 (Rupees Two Hundred Crore only) divided into 20,00,00,000 (Twenty Crore) Equity Shares of Rs. 10 (Rupees Ten only) each, and consequent amendment in the Memorandum of Association of the Company. The Board has further approved the proposal be forwarded to the Government of India for the approval, in accordance with Article 9 of the Articles of Association of the Company.

Shares of Garden Reach Shipbuilders & Engineers Limited was last trading in BSE at Rs. 780.40 as compared to the previous close of Rs. 763.65. The total number of shares traded during the day was 60908 in over 6327 trades.

The stock hit an intraday high of Rs. 793.80 and intraday low of 758.60. The net turnover during the day was Rs. 47641902.00.

Source : Equity Bulls

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GardenReachShipbuildersandEngineers INE382Z01011 GRSE AuthorizedShareCapital Increase