Sakthi Sugars to issues equity shares worth Rs 61 crore to ARCIL

It will issue 2,26,35,757 equity shares of Rs 10 each

Sakthi Sugars Ltd Monday informed BSE that it is planning to issue equity shares worth Rs 61.12 crore to Asset Reconstruction Company Limited (Arcil), on preferential issue basis.

In an announcement to BSE, the company said its Board of Directors have approved to Issue of 2,26,35,757 equity shares of Rs 10 each, at a price of Rs 27 per equity share, as fully paid-up equity shares by conversion of loans aggregating to Rs 61.12 crore to ARCIL, on preferential issue basis.