MSP Steel & Power to issue 1 crore shares at Rs.60

The Board of Directors of MSP Steel & Power Ltd at its meeting held on February 13, 2012, has decided to obtain the approval from shareholders by convening an Extra-Ordinary General Meeting for issue of 1,00,00,000 Equity Shares of Rs. 10/- each at a price of Rs. 60 (including premium of Rs. 50/- each) as determined in accordance with SEBI (Issue Of Capital and Disclosure Requirements) Regulations 2009 to promoters and non-promoter on preferential basis.

The MSP Steel & Power Ltd stock was trading at Rs.39.05, up by Rs.5.75 or 17.27%. The stock hit an intraday high of Rs.39.95 and low of Rs.34.05.

The total traded quantity was 3.52 lakhs compared to 2 week average of 0.17 lakhs.

Source : Equity Bulls

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