Shree Renuka Sugars Ltd revises Rights Issue size to Rs. 750 crores

The Board of Directors of Shree Renuka Sugars Ltd at their meeting held on August 13, 2014, approved and revised the Rights Issue size from Rs. 7,254 million to an amount not exceeding Rs. 7,500 million, to the existing equity shareholders of the Company on a rights basis ("Rights Issue"), for a price not exceeding Rs. 16/- per Equity Share, subject to all applicable statutory and regulatory approvals. The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price. Issue size, record date etc. shall be decided by a committee of Board constituted for this purpose ("Rights Issue Committee") in consultation with the Lead Manager to the Rights Issue.

Shares of SHREE RENUKA SUGARS LTD. was last trading in BSE at Rs.21.2 as compared to the previous close of Rs. 19.9. The total number of shares traded during the day was 1273128 in over 4517 trades.

The stock hit an intraday high of Rs. 21.5 and intraday low of 19.55. The net turnover during the day was Rs. 26274242.

Source : Equity Bulls

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