PTC India to raise Rs 1200 crores through QIP placement

PTC India Ltd has announced that decision of the Board taken in its 57th Meeting i.e. 'subject to the approval of shareholders raising of funds upto 1200 Crores through the Qualified Institutional Placement (NCDs upto Rs 400 Crores plus Warrants of upto Rs 800 Crores)' has been revised in the 59th Board Meeting as mentioned below.

In the Board Meeting held on April 05, 2009, the Board of Directors of the Company, inter alia, recommended to the shareholders raising of funds upto Rs 500 Crores (Rs Five hundred crores) in one or more tranches through issuance of equity shares and at such time and terms to be decided by the Board of Directors at an appropriate stage.

The stock was trading at Rs.72.35. The stock hit an intraday high of Rs.80.90 and low of Rs.72.10.

The total traded quantity was 331113 compared to 2 week average of 181487.

Source : Equity Bulls

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