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Mandhana Industries surges on plan to raise funds up to Rs 300 crore

06 Aug 2014 Evaluate

Mandhana Industries is currently trading at Rs. 247.00, up by 10.90 points or 4.62% from its previous closing of Rs. 236.10 on the BSE.

The scrip opened at Rs. 235.45 and has touched a high and low of Rs. 254.40 and Rs. 235.00 respectively. So far 23595 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 255.50 on 12-Jun-2014 and a 52 week low of Rs. 215.00 on 31-Oct-2013.

Last one week high and low of the scrip stood at Rs. 254.40 and Rs. 234.00 respectively. The current market cap of the company is Rs. 801.10 crore.

The promoters holding in the company stood at 68.90% while Institutions and Non-Institutions held 9.88% and 21.21% respectively.

Mandhana Industries has received an approval for raising of funds up to an amount not exceeding Rs 300 crore subject to approval of the shareholders. The board of directors at its meeting held on August 05, 2014 has approved for the same.

The company will raise funds by way of Qualified Institutions Placement (QIP) / External Commercial Borrowings (ECBS) with Rights of Conversion into Shares/ Foreign Currency Convertible Bonds (FCCBS) / American Depository Receipts (ADRS) / Global Depository Receipts (GDRS) / Follow-On Public Offer (FPO) / Composite Issue.

Mandhana Industries is a vertically integrated textile and garment manufacturing company in India. Its operations and facilities enable it to manufacture a wide variety of value-added fabrics and garments through its integrated operations comprising of dyeing of yarns and fabrics, weaving operations for fabrics, processing solutions for both fabrics and garments, garment manufacturing etc. 

 

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