IFB Agro Industries to seek EGM approval for issue of 9,98,000 shares

The Board of Directors of IFB Agro Industries Ltd at its meeting held on January 07, 2013, have decided to convene an Extra Ordinary General Meeting of the members of the Company on February 6, 2013 for obtaining approval for issue of 9,98,000 equity shares of Rs.10/- each face value at a price to be decided in accordance with the SEBI guidelines and other applicable provisions to promoters of the Company.

The Board, also decided to make application to the Stock Exchanges for obtaining 'in principle' approval from the designated Stock Exchanges for the proposed allotment of equity shares to the promoters after approval of the shareholders of the Company.

The IFB Agro Industries Ltd stock closed the day at Rs.181.65, down by Rs.2.90 or 1.57%. The stock hit an intraday high of Rs.188 and low of Rs.181.65.

The total traded quantity was 2716 compared to 2 week average of 2839.

Source : Equity Bulls

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