ITD Cementation India Ltd to raise funds

The Board of Directors of ITD Cementation India Ltd at its meeting held on July 01, 2014, has approved the alteration of the Authorised Share Capital of the Company and alteration of the Memorandum of Association of the Company along with alteration of the Articles of Association of the Company.

The Board also approved further issue of Equity Shares under Sections 42 and 62(1)(c) of The Companies Act, 2013, through public and / or private offerings or any combination thereof or by issue of prospectus and / or placement document / or other permissible / requisite offer document to any eligible person(s), including but not limited to Qualified Institutional Buyers or such other form as may be permissible, under law, for an amount not exceeding Rs.150 crores.

The above are subject to the approval of members at the General Meeting of the Company and all the requisite approvals as may be required from regulatory authorities and in accordance with the provisions of the applicable law.

The Board of Directors at the said meeting also approved delisting of its equity shares from The Calcutta Stock Exchange Association Limited.

Shares of ITD CEMENTATION INDIA LTD. was last trading in BSE at Rs.350.4 as compared to the previous close of Rs. 333.75. The total number of shares traded during the day was 19703 in over 170 trades.

The stock hit an intraday high of Rs. 350.4 and intraday low of 340. The net turnover during the day was Rs. 6871738.

Source : Equity Bulls

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