Uttam Sugar Mills raises funds through RCPS issue

Uttam Sugar Mills Ltd has issued and allotted 2,16,000 10% Redeemable Cumulative Preference Shares of Rs. 100/- each for cash aggregating to Rs. 2,16,00,000/- at a premium of Rs. 100/- per share aggregating to Rs. 2,16,00,000 totalling Rs. 4,32,00,000/- (Rupees Four Crores Thirty Two Lacs Only) to the entities forming part of Promoter group.

Consequently, with effect from January 29, 2011, the Issued and Subscribed Preference Share Capital of the Company stand increased to Rs. 50,00,00,000/- divided into 50,00,000 6.5% Redeemable Cumulative Preference Shares of Rs. 100/- each issued at par and Rs. 2,16,00,000/- divided into 2,16,000 10% Redeemable Cumulative Preference Shares of Rs. 100/- each issued at a premium of Rs. 100/- per share respectively.

The stock was trading at Rs.39.50, up by Rs.1.35 or 3.54%. The stock hit an intraday high of Rs.39.50 and low of Rs.38.40.

The total traded quantity was 3828 compared to 2 week average of 9233.

Source : Equity Bulls

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