MT Educare Ltd to raise Rs. 50 crores through QIP

The Board of Directors of MT Educare Ltd at its meeting held on August 22, 2014, has approved the fresh issue of shares / securities up to a maximum amount of Rs.50 crore through Qualified Institutions Placement (QIP), subject to shareholders approval by way of Special resolution.

The Board also approved increase in the authorised share capital of the Company from Rs.42 crore to Rs.50 crore and subsequent changes in the Memorandum and Articles of Association of the Company, subject to shareholders approval by way of ordinary resolution.

Shares of MT EDUCARE LTD. was last trading in BSE at Rs.132.05 as compared to the previous close of Rs. 138.15. The total number of shares traded during the day was 55082 in over 1533 trades.

The stock hit an intraday high of Rs. 139.9 and intraday low of 131. The net turnover during the day was Rs. 7438390.

Source : Equity Bulls

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