Emami Paper Mills to raise Rs. 120 crore through preference shares

The Board of Directors of Emami Paper Mills Ltd at its meeting held on June 14, 2013, has considered and approved the issue of 30,00,000 Cumulative Redeemable Non-Convertible Preference Shares of Rs. 100/- each at a premium of Rs. 300/- each aggregating to Rs. 120.00 crores for part finance of the Expansion Project at Balasore., Orissa for manufacturing 1,00,000 TPA Multi-Layer Coated Board paper to be issued on preferential basis to the promoters of the Company in one or more tranches.

Shares of Emami Paper Mills Ltd was last trading in BSE at Rs.25. The stock hit an intraday high of Rs.25 and low of Rs.25.

The total traded quantity was 100 compared to 2 week average of 1431.

Source : Equity Bulls

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