SRF Limited board approves fund raising through QIP and NCDs

The Board of Directors of SRF Limited (the "Company"), at its meeting held today, i.e. 31 August, 2020, has considered and approved the raising of funds for an aggregate amount not exceeding INR 750 Crores through issue of equity shares by way of qualified institutions placement, in accordance with the relevant provisions of applicable law and subject to approval of the Company's shareholders and receipt of applicable regulatory approvals.

The board also approved raising of funds for an aggregate amount not exceeding INR 250 Crores through issue of listed redeemable secured non-convertible debentures by way of private placement, in accordance with the relevant provisions of applicable law and subject to receipt of applicable regulatory approvals.

Shares of SRF LTD. was last trading in BSE at Rs.4052.1 as compared to the previous close of Rs. 4222.7. The total number of shares traded during the day was 8112 in over 2311 trades.

The stock hit an intraday high of Rs. 4250.55 and intraday low of 4015.45. The net turnover during the day was Rs. 33484851.

Source : Equity Bulls

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