Mukand Board approves Rights Issue

The Board of Directors of Mukand Ltd at its meeting held on June 06, 2013, have decided to issue further equity shares to raise an amount up to Rs. 160 crores to existing equity shareholders of the Company on rights basis, subject to all requisite approvals.

The Board approved proposal to increase the authorized share capital from Rs. 125 crores divided into 70,00,000 (seventy Iakhs) Preference Shares of Rs. 10/- each (Rupees Ten only) and 11,80,00,000 (eleven crores eighty Iakhs) Equity Shares of Rs. 10/- (Rupees Ten only) each to Rs. 160 crores divided into 70,00,000 (seventy lakhs) Preference Shares of Rs. 10/- (Rupees Ten only) and 15,30,00,000 (fifteen crores thirty lakhs) Equity Shares of Rs. 10/- (Rupees Ten only) each and consequent alteration of Memorandum and Articles of Association of the Company inter-aIia to enable further issue of equity shares as aforesaid subject to all requisite permissions & approvals and to obtain requisite approvals of the equity shareholders as may be required.

Shares of Mukand Ltd was last trading in BSE at Rs.22.80, down by Rs.0.20 or 0.87%. The stock hit an intraday high of Rs.23.75 and low of Rs.22.80.

The total traded quantity was 7333 compared to 2 week average of 5434.

Source : Equity Bulls

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