Everest Kanto to raise up to Rs 150 crore

Everest Kanto Cylinder Ltd has announced that the Board of Directors of the Company at its meeting held on June 11, 2009, inter alia, has decided to obtain the approval of the Members under Section 81(1A) of the Companies Act, 1956 to issue Equity Shares or Fully Convertible Debentures / Partly Convertible Debentures / Optionally Convertible Debentures or any other securities convertible into or exchangeable with the Equity Shares of the Company through QIP / Preferential Allotment for an amount of up to INR 150 crores.

The stock was trading at Rs.224, down by Rs.2.15 or 0.95%. The stock hit an intraday high of Rs.232.80 and low of Rs.218.25.

The total traded quantity was 466028 compared to 2 week average of 543410.

Source : Equity Bulls

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