Suryachakra Power EGM approves preferential issue, GDR, FCCB issue

Suryachakra Power Corporation Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 17, 2009, inter alia, have approved the issue of 65,00,000 (Sixty Five Lakh) convertible warrants to the promoters in accordance with SEBI preferential issue guidelines.

The EGM also approved the issue of Global Depository Receipts (GDRs) and/or Foreign Currency Convertible Bonds (FCCBs) etc up to an amount of Euro 100 millions (Euro One Hundred millions only) or any equivalent amount in any currency in one or more trenches, to Foreign investors / Institutions, and/or Corporate Bodies including Mutual Funds etc.

The stock was trading at Rs.11.15, up by Rs.0.47 or 4.40%. The stock hit an intraday high of Rs.11.20 and low of Rs.10.72.

The total traded quantity was 22024 compared to 2 week average of 108545.

Source : Equity Bulls

Keywords