The board has approved preferential allotment of 2,74,72,527 equity shares of face value Rs 10/ each at a premium of Rs 4.56 per equity share to Forefront Capital Management Private Ltd, the company said in a release.
Forefront Capital Management Private Ltd is a SEBI registered portfolio manager, which is 100% subsidiary of Edelweiss Financial Services Ltd, the release added.
The stock opened at Rs 12 and touched a high of Rs 12.32 on the Bombay Stock Exchange. At 12:55PM, over 868,000 shares were traded on both the stock exchanges so far.
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