Karuturi Global to raise Rs 300 crores

Karuturi Global Ltd has announced that the Board of Directors of the Company at its meeting held on May 23, 2009, inter alia, has decided to raise about Rs 300 crores through the preferential issue of approximately 24.15 crore warrants to the Promoters and their Group and to certain strategic investors, subject to applicable compliances.

The Company will seek approval from the Members through Postal Ballot for this preferential issue.

The stock was trading at Rs.12.93, up by Rs.0.61 or 4.95%. The stock hit an intraday high of Rs.12.93 and low of Rs.12.90.

The total traded quantity was 2857520 compared to 2 week average of 1367146.

Source : Equity Bulls

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