Raj Oil Mills Ltd to issue warrants, raise funds

The Board of Directors of Raj Oil Mills Ltd at its meeting held on May 05, 2012, have decided to issue upto 2,40,00,000 warrants @ Rs. 14/- per warrant to the person acting in concert (non promoters) on preferential basis convertible in to equal number of equity shares of Rs. 10/- each and to create, offer, issue and allot any security including Global Depository Receipts (GDRs), American Depository Receipts (ADRs) convertible into equity shares not exceeding USD 20 million or equivalent Indian rupees.

The above proposals are subject to the approval by the share holders in the Extra Ordinary General Meeting. The Board approved the Notice of the Extra Ordinary General Meeting of the Company.

The Raj Oil Mills Ltd stock was trading at Rs.9.43, up by Rs.0.13 or 1.40%. The stock hit an intraday high of Rs.9.50 and low of Rs.9.20.

The total traded quantity was 0.34 lakhs compared to 2 week average of 0.53 lakhs.

Source : Equity Bulls

Keywords