Sadbhav Engineering Ltd approves QIP up to Rs. 250 crores

The Board of Directors of Sadbhav Engineering Ltd at its meeting held on September 09, 2014, has considered and approved the raising of funds by way of a qualified institutions placement in accordance with the provisions of Chapter VIII of Securities and Exchange Board of India (issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws up to an amount not exceeding Rs. 250 Crore.

The Board approved convening an extra-ordinary general meeting of the members of the Company on October 04, 2014 for obtaining the authority / approval of the members of the Company for raising funds by way of a qualified institutions placement as mentioned above.

Shares of SADBHAV ENGINEERING LTD. was last trading in BSE at Rs.225.95 as compared to the previous close of Rs. 208.6. The total number of shares traded during the day was 273050 in over 8451 trades.

The stock hit an intraday high of Rs. 233.9 and intraday low of 211. The net turnover during the day was Rs. 60988415.

Source : Equity Bulls

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