Vakrangee Ltd approves QIP to QIBs

The Board of Directors of Vakrangee Ltd at its meeting held on July 03, 2014, has considered and approved fund raising by way of Qualified Institutional Placement (QIP) by way of issuance of eligible securities to the Qualified Institutional Buyers (QIBs) upto 15% of the then issued and subscribed capital of the Company 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 has constituted 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 and approved the Postal Ballot Notice and Postal Ballot Form for the aforementioned matter.

Shares of Vakrangee Limited-$ was last trading in BSE at Rs.127.1 as compared to the previous close of Rs. 128.95. The total number of shares traded during the day was 481063 in over 959 trades.

The stock hit an intraday high of Rs. 130 and intraday low of 126.3. The net turnover during the day was Rs. 61428075.

Source : Equity Bulls

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