Sadbhav Infra shares zoom 11.5% post fund raising

Shares of Sadbhav Infrastructure Project Ltd today jumped 11.5 per cent after the company raised Rs 200 crore in the first tranche through issuance of non-convertible debentures (NCDs) via private placement.
The scrip zoomed 11.36 per cent to settle at Rs 113.25 on BSE. During the day, it surged 18.38 per cent to Rs 120.40 -- its 52-week high.
At NSE, shares of the company soared 11.5 per cent to close at Rs 113.40.
In terms of volume, 25.37 lakh shares of the company were traded on BSE and over 53 lakh changed hands on NSE during the day.
"The board of directors of the company has passed resolution... Towards approval of the allotment of 2,000 senior, taxable, secured, rated, listed, redeemable, non-convertible debentures totally aggregating up to Rs 200 crore having face value of Rs 10,00,000 each under tranche I comprising series I, series II, series III and series IV debentures, of Rs 50,00,00,000 each," Sadbhav Infra said in a filing to BSE.