Mahaveer Infoway to raise Rs.50 crores

The Board of Directors of Mahaveer Infoway Ltd at its meeting held on April 15, 2011, has discussed and approved raising of additional capital up to Rs. 50 Crores by issue of equity based securities to various investors by means of Public / Private Offerings / QIP Placement / Preferential issue or a combination thereof in one or more tranches subject to the approval of the Shareholders in the ensuing General Meeting.

The stock closed the day at Rs.22.95, up by Rs.0.95 or 4.32%. The stock hit an intraday high of Rs.23.10 and low of Rs.21.10.

The total traded quantity was 46 compared to 2 week average of 522.

Source : Equity Bulls

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