Sical Logistics EGM approves issue of equity shares

Sical Logistics Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 10, 2007, inter alia, have accorded to the Board to raise, issue, offer and allot at any lime and from time to time in one or more tranches from the unissued equity share capital of the Company by way of equity shares under private placement on preferential basis upto an amount not exceeding Rs 117 crores in the aggregate, including premium, not being at a price lesser than the price being arrived at as per the guidelines provided in Chapter XIII of SEBI (DIP) Guidelines, 2000 - Guidelines for Preferential Issues as amended upto date to M/s. IDFC Private Equity Fund - II, subject to necessary provisions and approvals.

The stock closed the day at Rs.200.15, up by Rs.7.55 or 3.92%. The stock hit an intraday high of Rs.207.30 and low of Rs.192. The total traded quantity was 218214 shares compared to 2 week average of 13010.

Source : Equity Bulls

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