Radhe Developers to consider raising funds on Sep 02, 2009

Radhe Developers India Ltd has announced that a meeting of the Board of Directors of the Company will be held on September 02, 2009, to consider, raising further capital required for expansion purpose by anyone or combination of the overseas and QIP issue.

The Board will consider raising funds by way of issue of Global Depository Receipts (GDR) / American Depository Receipts (ADR), Foreign Currency Convertible Bonds (FCCB) and other securities, subject to necessary sanctions, approvals and applicable provisions of law or by way of issue of securities to Qualified Institutional Placement (QIP) subject to necessary sanctions, approvals and applicable provisions of law.

The stock was trading at Rs.6.89, up by Rs.0.02 or 0.29%. The stock hit an intraday high of Rs.7.20 and low of Rs.6.88.

The total traded quantity was 231977 compared to 2 week average of 420506.

Source : Equity Bulls

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