The board has approved issuance upto 47 lakh fully-paid up equity shares of face value Rs 10 each at a price of Rs 340 per equity share amounting to Rs 150.40 crore by way of preferential allotment, the company said in a release to the exchange.
Meanwhile, the issuance is subject to the shareholders and other necessary approvals and compliance with applicable laws and regulations, the release said.
The stock opened at Rs 305 and touched a high of Rs 311 so far. Over 23,000 shares were traded on the stock exchanges so far.
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