Munoth Financial Services to raise Rs 2 crores

Munoth Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on March 26, 2010, has proposed to issue, offer and allot equity shares of nominal value of Rs. 10/- (Rupees ten only) each, at a price not less than the price calculated in accordance with SEBI Guidelines for preferential allotment of shares, at such terms and in such manner as the Board of Directors may in its absolute discretion deem fit to the extent of Rs. 2,00,00,000 (Rupees Two cores only) including premium, on Private Placement Basis to the existing promoters.

The stock was trading at Rs.10.80, up by Rs.0.51 or 4.96%. The stock hit an intraday high of Rs.10.80 and low of Rs.10.80.

The total traded quantity was 5 compared to 2 week average of 19.

Source : Equity Bulls

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