One of many main cement producers in India, Sagar Cements on Saturday introduced the allotment of fairness shares value over ₹350 crore to Pl Alternatives Fund I Scheme II.
In a press release in the present day, Sagar Cements mentioned the corporate allotted 1,32,07,548 fairness shares having a face worth of ₹2 every at a problem worth of ₹265 per share to Pl Alternatives Fund 1 Scheme II (PIOF), on a preferential foundation in accordance with the approval accorded by the shareholders at their Additional-Odd Normal Assembly held on April 23, 2022.
PIOF is an affiliate of Premji Make investments, a number one Personal Fairness fund in India.
The allotment of shares was valued at round ₹350 crore on the situation worth.
“The funding proceeds might be largely utilized in the direction of assembly the natural and inorganic enlargement plans of the Firm together with funding its basic company bills,” Sagar Cements mentioned within the assertion.
Following the above allotment, the paid-up fairness share capital of the Sagar Cements has now elevated from ₹23.5 crore to over ₹26.14 crore.
On Friday, Sagar Cements shares closed at ₹224.10 apiece down by 1.65% on BSE.
Supply: Live Mint