Camlin Fine Chemicals Board approves Rights Issue

Camlin Fine Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on December 01, 2009 have approved the Company's plan to raise funds by way of issue of Equity Shares on a Rights basis to the existing Shareholders of the Company for an aggregate amount of around Rs. 5.5 crores. The details of the share ratio and price per share would be decided and announced at an appropriate time. The proceeds of the above issue will be for funding the on going normal Capital Expenditure.

The Board has also constituted a "Rights Issue Committee" which has been fully empowered for the purpose of implementing the said Rights Issue.

The stock closed the day at Rs.94.85, up by Rs.3.10 or 3.38%. The stock hit an intraday high of Rs.100.40 and low of Rs.92.35.

The total traded quantity was 24777 compared to 2 week average of 26979.

Source : Equity Bulls

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