Karuturi Global to raise Rs 50 crore through CP issue

Karuturi Global Ltd has announced that the Board of Directors of the Company at its meeting held on June 15, 2009, inter alia, has decided to issue Commercial Paper to the extent of Rs 50 Crores to the eligible investors and have appointed AXIS Bank Ltd as the IPA agent and Karvy Computershare Pvt Ltd, Hyderabad as the R&T agent for the issue.

The company has made allotment of 36,87,500 equity shares of Re 1 each to Deutsche Bank AG London against 10 FCCB bonds of US $100,000 each surrendered for conversion with a conversion price of Rs 12 per share.

With this allotment, the total paid up capital of the Company has gone up to Rs 45,65,96,575 divided into equal numbers of shares of Re 1 each.

The stock was trading at Rs.13.60, down by Rs.0.20 or 1.45%. The stock hit an intraday high of Rs.13.75 and low of Rs.13.15.

The total traded quantity was 388245 compared to 2 week average of 4736040.

Source : Equity Bulls

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