Shreyas Intermediates to issue CRPS at Rs.15

Shreyas Intermediates Ltd has announced that the Board of Directors of the Company at its meeting held on April 21, 2007, has passed a resolution for issuing the 1,20,00,000 - 10% Cumulative Redeemable Preference Shares of Rs 10/- each at a premium of Rs 5/- per share to the Promoter Group on preferential allotment basis.

The Promoter Group comprising, inter alia, Mr. Dinesh Sharma, Mr. S I Sharma, Mrs. Snehalata Sharma, Mrs. Sohini Sharma, Mr. Shreyas Sharma, Ms. Shruti Sharma, Cyan Formulators Pvt Ltd., Malvika Harbopharma Pvt Ltd & Deft Holdings Pvt Ltd would subscribe to the said shares.

The stock closed on Friday at Rs.55, up by Rs.1.20 or 2.23%. The total traded quantity was 39690 compared to 2 week average of 26602. The stock hit an intraday high of Rs.56.45 and low of Rs.54.10.

Source : Equity Bulls

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