Panyam Cements & Mineral Industries approves NCD issue, preferential issue of warrants

The Board of Directors of Panyam Cements & Mineral Industries Ltd at its Board Meeting held on December 29, 2015 has considered and passed the proposal to raise funds.

The Board approved the issue of 978 Secured, Rated, Listed, Redeemable, Non-Convertible Debenture(s) in the dematerialized form, of a face value of Rs.10,00,000/- each (Rupees ten lakhs only) and issue of 8,43,060/- convertible warrants for an aggregate consideration of Rs.7,13,06,015/-.

The company is convening an Extra-ordinary General Meeting of the company on January 25, 2016 at the Registered Office at C-1, Industrial Estate, Bommalasatram, Nandyal - 518502, Kurnool District. A.P.

Shares of PANYAM CEMENTS & MINERAL INDUSTRIES LTD. was last trading in BSE at Rs.83.35 as compared to the previous close of Rs. 82.25. The total number of shares traded during the day was 26136 in over 152 trades.

The stock hit an intraday high of Rs. 85 and intraday low of 82. The net turnover during the day was Rs. 2209407.

Source : Equity Bulls

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