Electrosteel Castings approves allotment Of Unlisted Secured Redeemable Non-Convertible Debentures

Electrosteel Castings Limited has announced with respect to issuance of Unlisted Secured Redeemable Non-Convertible Debentures in two series ie. Series VI and Series VII.

The Banking and Authorisation Committee vide resolution passed by circulation today i.e. on 7 March 2017 has allotted 125 No. Unlisted Secured Redeemable Non-Convertible Debentures of Rs.1,00,00,000 each (Series VI) and 75 No. Unlisted Secured Redeemable Non-Convertible Debentures of Rs.1,00,00,000 each (Series VII) aggregating to Rs.200,00,00,000 (Rupees Two Hundred Crore) on Private Placement Basis. The date of maturity for the said Debentures shall be 6 March 2023 (i.e. 72 months from the date of subscription).

Shares of ELECTROSTEEL CASTINGS LTD. was last trading in BSE at Rs.28.1 as compared to the previous close of Rs. 28.05. The total number of shares traded during the day was 39747 in over 167 trades.

The stock hit an intraday high of Rs. 28.1 and intraday low of 27.4. The net turnover during the day was Rs. 1102982.

Source : Equity Bulls

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