EID Parry India Ltd to convert CRPS in susidiary to equity shares

The Board of Directors of the Company at their meeting held on February 21, 2017 accorded their approval for the investments held in the Cumulative Redeemable Preference Shares in Parry Sugars Refinery India Private Limited (PSRIPL), a Wholly Owned Subsidiary aggregating to Rs. 141 Crore to be converted into equity shares of PSRIPL.

The Board also approved the investment of an amount of Rs. 90 Lakh in the Equity Share Capital of Parrys Investments Limited, a wholly owned subsidiary.

Shares of E.I.D.-PARRY (INDIA) LTD. was last trading in BSE at Rs.294 as compared to the previous close of Rs. 288.2. The total number of shares traded during the day was 233097 in over 490 trades.

The stock hit an intraday high of Rs. 294.5 and intraday low of 288.1. The net turnover during the day was Rs. 67424990.

Source : Equity Bulls

Keywords