Oct 25, 2013, 08.53 PM IST
Shriram EPC said it would issue three crore cumulative redeemable preference shares of a face value of Rs 100 each in one or more tranches for an aggregate subscription price of Rs 300 crore.
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Shriram EPC board approves Rs 300cr preference share issue
Shriram EPC said it would issue three crore cumulative redeemable preference shares of a face value of Rs 100 each in one or more tranches for an aggregate subscription price of Rs 300 crore.
Like this story, share it with millions of investors on M3
Shriram EPC board approves Rs 300cr preference share issue
Shriram EPC said it would issue three crore cumulative redeemable preference shares of a face value of Rs 100 each in one or more tranches for an aggregate subscription price of Rs 300 crore.
The board has approved the proposal at a meeting on October 22, it said in a BSE filing. Shriram EPC said it would issue three crore cumulative redeemable preference shares of a face value of Rs 100 each in one or more tranches for an aggregate subscription price of Rs 300 crore.
The issue is subject to approval of the shareholders of the company to be obtained through a postal ballot and other regulatory authorities, it said. Shriram EPC is a part of the USD 9 billion Shriram Group. It offers design, engineering, procurement, construction and project management services.
On October 25, 2013, Shriram EPC closed at Rs 28.70, down Rs 0.15, or 0.52 percent. The 52-week high of the share was Rs 86.00 and the 52-week low was Rs 26.10.
The latest book value of the company is Rs 55.15 per share. At current value, the price-to-book value of the company was 0.52.
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