Alicon Castalloy Ltd board approves fund raising of up to Rs. 100 crore

The Board of Directors of Alicon Castalloy Ltd in its meeting held today, 2nd December, 2020, has given its nod to raise funds up to Rs. 100 crores by issue of further equity capital by way of a qualified institutions placement (QIP), in one or more tranches, which will be issued to qualified institutional buyers. For this purpose, the Board has convened an Extra-Ordinary General Meeting (EGM) of the shareholders of the Company on December 30, 2020 for seeking their necessary approvals. The said EGM will be held through Video Conference / Other Audio Visual Means.

Further, the Board of Directors took note of the proposal that equity shares may be issued to promoters, foreign collaborators, HNIs and other investors on a preferential basis at a later stage.

Shares of Alicon Castalloy Limited was last trading in BSE at Rs.336.7 as compared to the previous close of Rs. 337.1. The total number of shares traded during the day was 5621 in over 297 trades.

The stock hit an intraday high of Rs. 346.25 and intraday low of 334.4. The net turnover during the day was Rs. 1921687.

Source : Equity Bulls

Keywords