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Board of Punjab Alkalies & Chemicals approves preferential allotment of shares

Capital Market 

At meeting held on 16 March 2021

The Board of Punjab Alkalies & Chemicals at its meeting held on 16 March 2021 has considered that the requirement of fund raised by the Company is now proposed to be raised through the preferential allotment and therefore the Company will not proceed ahead with the proposed rights issue, as earlier decided by the Board.

The Board has approved the allotment of up to 54 lakh equity shares at issue price of Rs 60 per share on preferential basis.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, March 17 2021. 11:48 IST