Man Infraconstruction Approves Rs 550 Crore Fundraise
By Rediff Money Desk, NEWDELHI Nov 29, 2023 16:28
Man Infraconstruction board approves up to Rs 550.23 crore fundraise via warrant issue on preferential basis, subject to shareholder approval.
New Delhi, Nov 29 (PTI) EPC company Man Infraconstruction on Wednesday said its board has approved raising up to Rs 550.23 crore via issue of warrant on preferential basis.
The go-ahead was given during the meeting of the board held on Wednesday.
"The board of directors of Man Infraconstruction... has considered and approved raising of funds through issue and allotment of up to 3,55,05,000 warrants, being each warrant convertible into one equity share of the face value of Rs 2 each to certain non-promoter investors on preferential basis," the company said in a filing to the BSE.
However, this approval is subject to the shareholders' approval in the ensuing general meeting.
The go-ahead was given during the meeting of the board held on Wednesday.
"The board of directors of Man Infraconstruction... has considered and approved raising of funds through issue and allotment of up to 3,55,05,000 warrants, being each warrant convertible into one equity share of the face value of Rs 2 each to certain non-promoter investors on preferential basis," the company said in a filing to the BSE.
However, this approval is subject to the shareholders' approval in the ensuing general meeting.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Sebi Proposes New...](https://im.rediff.com/80-80/money/2021/apr/09mf2.jpg)
Sebi Proposes New Asset Class for Investors...
Sebi proposes a new asset class between mutual funds and PMS for investors with Rs...
![Himadri...](https://im.rediff.com/80-80/money/2023/aug/07chemical.jpg)
Himadri Speciality Q1FY'25 Profit Jumps 40% to...
Himadri Speciality Chemical Ltd (HSCL) reported a 40% YoY jump in net profit to Rs 123...
![FlixBus Partners...](https://im.rediff.com/80-80/money/2019/jan/09paytm-1.jpg)
FlixBus Partners with Paytm to Expand Travel...
FlixBus partners with Paytm to expand its distribution network, making tickets...