Tricom Fruit Products to raise Rs.70 crores

The Board of Directors of Tricom Fruit Products Ltd at its meeting held on March 19, 2011 has approved the raising of funds to the extent of Rs. 70,00,00,000/- (Rupees Seventy crores only) through issue of Equity Shares of the Company, and appointed merchant bankers for the same.

The Board increased the Authorised Share Capital of the Company to Rs. 25,00,00,000/- (Rupees Twenty Five Crores only) divided into 2,50,00,000 (Two Crore Fifty Lakhs) Equity Shares of Rs. 10/- each from the existing Rs. 17,50,00,000/- (Rupees Seventeen Crore Fifty Lakhs only) divided into 1,75,00,000 (One Crore Seventy Five Lakhs) Equity Shares of Rs. 10/- each.

The stock was trading at Rs.46, up by Rs.1 or 2.22%. The stock hit an intraday high of Rs.46 and low of Rs.45.

The total traded quantity was 600 compared to 2 week average of 9241.

Source : Equity Bulls

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