Lancor Holdings to raise Rs 75 crores

Lancor Holdings Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on December 11, 2009, have passed a Special Resolution with regard to issue further securities up to a value of Rs. 75.00 crores with domestic / International markets through various instruments including issuance of equity shares, warrants, convertible and non-convertible debentures under qualified institutional placements, private equity and other forms of capital raising instruments pursuant to the provisions of Section 81(1A) of the Companies Act, 1956.

Further the Company has informed that, the Registrar of Companies, Chennai, Tamilnadu has updated Company Master Data, pursuant to the Order of Hon'ble High Court having Judicature at Madras merging Authorised Capital of Lancor G:Corp Properties Ltd. (Amalgamated) with the Company, there by the Authorised Capital of the Company has been increased to Rs. 150,000,000/- from the existing Rs. 50,000,000/-.

The stock closed the day at Rs.105.30, up by Rs.1.75 or 1.69%. The stock hit an intraday high of Rs.106.95 and low of Rs.102.60.

The total traded quantity was 75917 compared to 2 week average of 98413.

Source : Equity Bulls

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