Era Infra Engineering to raise upto $200 million

The Board of Directors of Era Infra Engineering Ltd has recommended to increase the Authorised Share Capital of the Company from existing Rs 40 Crores to Rs 60 Crores subject to the approval from Shareholders at the ensuing Annual General Meeting.

The Board has recommended increase in the FII Limit of the Company upto 65% (sixty five) percent of the paid up equity share capital of the Company.

The Board has also recommended raising of funds to the tune of US $ 200 million (Rs 1000 Crores), whether from India or abroad, by way of issue of Equity Shares or any other Securities convertible into equity shares through Depository Receipts/ FCCB/ QIP.

The stock was trading at Rs.114.05, up by Rs.4.50 or 4.11%. The stock hit an intraday high of Rs.116.45 and low of Rs.110.10.

The total traded quantity was 94086 compared to 2 week average of 338711.

Source : Equity Bulls

Keywords