Repro India Ltd approves fund raising upto Rs. 80 crores

The Board of Directors of Repro India Ltd, at its meeting held on 7.10.2017,has considered and approved the proposal for raising funds by way of preferential issue of equity shares & warrants to the Investors other than promoters/promoters group upto an amount of Rs. 80 Crores, subject to approval of regulatory authorities and approval of shareholders, as may be required.

The Board approved proposal to convene an EGM of the Company on Thursday, November 2, 2017 for obtaining the Shareholders approval & passing the necessary Special Resolutions in this regard under the provision of the Companies Act, 2013.

The above proposals to issue of shares / securities a warrants by way of preferential allotment shall be subject to necessary confirmation, consents, etc. of regulatory authorities as may be necessary, approval from shareholders of the Company and in compliance with applicable law including the provisions of the SEBI (ICDR) Regulations, 2009 and the Companies Act, 2013.

Shares of REPRO INDIA LTD. was last trading in BSE at Rs.700 as compared to the previous close of Rs. 705.2. The total number of shares traded during the day was 1316 in over 118 trades.

The stock hit an intraday high of Rs. 723.6 and intraday low of 699. The net turnover during the day was Rs. 929953.

Source : Equity Bulls

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