Usha Martin Ltd Board approves Rights Issue of equity shares

The Board of Directors of Usha Martin Ltd at its meeting held on September 16, 2014, has resolved to raise funds by way of a rights issue of equity shares of face value of Re. 1 each, aggregating up to Rs. 200 Crores including premium ("Rights Issue"), 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, timing of the Rights Issue and other related matters shall be decided by the Board of Directors or a duly empowered committee thereof.

Shares of USHA MARTIN LTD. was last trading in BSE at Rs.35.45 as compared to the previous close of Rs. 37.7. The total number of shares traded during the day was 331748 in over 2410 trades.

The stock hit an intraday high of Rs. 40.2 and intraday low of 34.5. The net turnover during the day was Rs. 12092815.

Source : Equity Bulls

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