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Prakash Industries gets nod to raise up to Rs 500 crore

24 Aug 2017 Evaluate

Prakash Industries has received an approval for raising of funds up to Rs 500 crore in one or more tranches by issue of equity shares through Qualified Institutional Placement (QIP) to eligible investors in such manner and on such terms and conditions as may be permitted under the applicable laws. The board of directors at its meeting held on August 24, 2017 has approved for the same.

Prakash Industries is an integrated steel and power company. Its products include coal mines, iron ore mines, sponge iron, power, steel melting shop and ferro alloys

Peers
Company Name CMP
JSW Steel 1345.00
Tata Steel 184.90
Steel Authority 169.80
Jindal Stainless 691.05
APL Apollo Tubes 2180.10
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