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ITD Cementation shines on getting nod to raise funds up to Rs 350 crore

21 Sep 2017 Evaluate

ITD Cementation India is currently trading at Rs. 170.00, up by 4.40 points or 2.66% from its previous closing of Rs. 165.60 on the BSE.

The scrip opened at Rs. 167.25 and has touched a high and low of Rs. 170.90 and Rs. 163.00 respectively. So far 40857 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 193.35 on 02-May-2017 and a 52 week low of Rs. 126.20 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 181.40 and Rs. 161.00 respectively. The current market cap of the company is Rs. 2566.31 crore.

The promoters holding in the company stood at 51.63%, while Institutions and Non-Institutions held 23.51% and 24.85% respectively.

ITD Cementation India has received an approval for raising of funds by way of issue of equity shares or financial instruments convertible into equity shares including warrants or securities convertible into equity shares in one or more tranches to institutions, corporate bodies, mutual funds, individuals, pension funds and / or any other category of investors (investors), as may be permitted through Private Placement or Qualified Institutional Placement (QIP) or on preferential allotment basis or any combination thereof or any other method up to an amount not exceeding Rs 350 crore. The board of directors at its meeting held on September 21, 2017 has approved for the same.

ITD Cementation India is an India-based company involved in construction and civil engineering. The company is engaged in construction of a range of structures, which include maritime structures, mass rapid transport systems (MRTS), airports and other foundations.

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