Sequent Scientific Ltd to consider raising Rs. 400 crores

The Board of Directors of Sequent Scientific Ltd at its meeting held on June 18, 2014, has approved the fund raising proposal of upto Rs. 400 Crores through issue of GDRs/ ADRs/ FCCBs/ QIP/ such other equity linked instruments etc, subject to approval of Members and any other statutory/ regulatory approvals as may be required.

The Board approved increase in the limit of investments by Foreign Institutional Investors (FIIs) in the equity share capital of the Company upto 49% of the paid up capital of the Company, subject to approval of the Members and any other statutory / regulatory approvals as may be required.

The Board also approved increase in Authorized Capital from Rs. 40 Crore to Rs. 50 Crore, subject to approval of Members of the Company.

Shares of SEQUENT SCIENTIFIC LTD. was last trading in BSE at Rs.367.75 as compared to the previous close of Rs. 374.2. The total number of shares traded during the day was 11341 in over 292 trades.

The stock hit an intraday high of Rs. 384 and intraday low of 365. The net turnover during the day was Rs. 4236443.

Source : Equity Bulls

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