Rajoo Engineers Ltd approves preferential issue of 35 lakh warrants

The Board of Directors of Rajoo Engineers Ltd at its meeting held on 10th May, 2017, approved Preferential offer and Issue of up to 35,00,000 (Thirty Five Lakhs) Warrants convertible to Equity Shares of Re. 1/- each to Promoters and Individuals other than Promoters and Promoters Group subject to the approval of the Members of the Company in General Meeting by way of Special Resolution as required to be passed under Section 42 and Section 62 of the Companies Act, 2013 and other necessary regulatory approvals.

The Warrants will be issued at a price not lower than the price arrived at as per the Provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended and on such further terms and conditions specified in the said Regulations.

Shares of RAJOO ENGINEERS LTD. was last trading in BSE at Rs.23.05 as compared to the previous close of Rs. 23.3. The total number of shares traded during the day was 324317 in over 777 trades.

The stock hit an intraday high of Rs. 23.75 and intraday low of 22.5. The net turnover during the day was Rs. 7512262.

Source : Equity Bulls

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