Mawana Sugars Limited approves investment of Rs. 10 crores in Siel Industrial Estate Ltd

The Board of Directors of Mawana Sugars Limited in its meeting held today (i.e. 6th March, 2021), has approved an investment up to Rs.10 Crores in Siel Industrial Estate Limited (Siel IE), subsidiary of the Company, by way of subscription of 1,00,00,000 Optionally Convertible Cumulative Preference Shares (OCCPS) of Rs.10/- each to be issued by Siel IE in one or more tranches as and when requested by Siel IE to the Company instead of making any investment in Redeemable Cumulative Preference Shares(RCPS) as decided in the meeting of the Board of Directors dated 25.02.2021. The overall investment by the Company in Siel IE shall remain unchanged at Rs. 10 crores.

Shares of MAWANA SUGARS LTD. was last trading in BSE at Rs.42 as compared to the previous close of Rs. 42.65. The total number of shares traded during the day was 23331 in over 277 trades.

The stock hit an intraday high of Rs. 44.15 and intraday low of 41.5. The net turnover during the day was Rs. 1006446.

Source : Equity Bulls

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