Himadri Chemicals approves raising of funds through issue of 63.10 lakh shares

Himadri Chemicals & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on December 31, 2009, inter alia, has accorded approval for raising of funds by way of issue of 63,10,000 equity shares of Rs. 10/- each to Bain Capital India Investments and / or its affiliates at a price of Rs. 400/- per share on preferential basis.

The Board approved convening of an Extra Ordinary General Meeting of the Shareholders of the Company on January 29, 2010 for obtaining the approval of the Shareholders in terms of Section 81(1A) of the Companies Act, 1956 for the above referred matter and incidental matters.

The stock was trading at Rs.439.80, up by Rs.14.75 or 3.47%. The stock hit an intraday high of Rs.457.95 and low of Rs.426.05.

The total traded quantity was 144583 compared to 2 week average of 89895.

Source : Equity Bulls

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