Vakrangee Ltd to consider QIP upto Rs. 1000 crores

A meeting of the Board of Directors of Vakrangee Ltd will be held on July 03, 2014, to consider and approve fund raising by way of Qualified Institutional Placement (QIP) by way of issuance of eligible securities to the Qualified Institutional Buyers (QIBs) upto Rs. 1000 Crore (Rupees One Thousand Crore) at such rate as may be decided by the board/committee as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, subject to members' approval.

The Board will consider proposal to constitute a committee to be called as "QIP Committee" authorized to do all such acts, deeds and things with respect to the aforesaid Qualified Institutional Placement.

The Board will also consider and approve passing of the Members' resolution for the aforesaid QIP through postal ballot.

Shares of Vakrangee Limited was last trading in BSE at Rs.129 as compared to the previous close of Rs. 128.8. The total number of shares traded during the day was 359127 in over 934 trades.

The stock hit an intraday high of Rs. 130 and intraday low of 128.55. The net turnover during the day was Rs. 46515642.

Source : Equity Bulls

Keywords