Magadh Sugar & Energy Ltd approves fund raising of Rs. 100 crore

Magadh Sugar & Energy Ltd approves fund raising of Rs. 100 croreThe Board of Directors of Magadh Sugar & Energy Ltd at their meeting held today i.e. 07.11.2017, considered and approved the proposal for raising of funds/issue of securities through public or private placement included but limited to Preferential Issue / QIP / FCCBs / FECBs / ADRs / GDRs / FCDs / NCDs / PCDs / OCDs / CP or any other debt securities or any equity linked instrument etc. for an aggregate amount not exceeding Rs 100 Crores, subject to the approval of the Shareholders by means of Postal Ballot and other requisite approvals as may be necessary.

Shares of Magadh Sugar & Energy Ltd was last trading in BSE at Rs.208.6 as compared to the previous close of Rs. 219.55. The total number of shares traded during the day was 5793 in over 38 trades.

The stock hit an intraday high of Rs. 223.9 and intraday low of 208.6. The net turnover during the day was Rs. 1224393.

Source : Equity Bulls

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