Shriram Asset Management Company to issue preference shares

The Board of Directors of Shriram Asset Management Company Ltd at its meeting held on January 16, 2013, has approved the further issuance of Redeemable Non-Convertible Preference Shares of an amount not exceeding Rupees Five Crores subject to the approval of Shareholders.

The Board authorised Securities Issue Committee to decide on all the matters related to the issue including issuance in tranches, timing, terms and conditions etc. of the issue.

The Shriram Asset Management Company Ltd stock was trading at Rs.34, down by Rs.0.50 or 1.45%. The stock hit an intraday high of Rs.35.80 and low of Rs.34.

The total traded quantity was 200 compared to 2 week average of 870.

Source : Equity Bulls

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