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Simbhaoli Sugars strengthens on plan to issue preferential shares worth Rs 40 crore

13 Mar 2013 Evaluate

Simbhaoli Sugars is currently trading at Rs. 27.00, up by 0.50 points or 1.89% from its previous closing of Rs. 26.50 on the BSE.

The scrip opened at Rs. 27.00 and has touched a high and low of Rs. 27.95 and Rs. 27.00 respectively. So far 4528 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 38.85 on 14-Mar-2012 and a 52 week low of Rs. 21.05 on 31-May-2012.

Last one week high and low of the scrip stood at Rs. 29.45 and Rs. 23.20 respectively. The current market cap of the company is Rs. 76.22 crore.

The promoters holding in the company stood at 45.73% while Institutions and Non-Institutions held 7.53% and 46.74% respectively.

Simbhaoli Sugars will be issuing preferential shares worth Rs 40 crore to the company's promoters as well as some investors. A special resolution in this regard was passed at the company’s extra-ordinary general meeting held on March 13, 2013.

Further, the company’s shareholder has also passed a special resolution on increasing authorized share capital of the company from Rs 40 crore to 75 crore.

Simbhaoli Sugars has three sugar plants (Simbhaoli and Brijnathpur, Western UP and Chilwaria, Eastern UP) with a combined, crushing capacity of 20,100 TCD. It is capable of producing a wide range of world-class sugars i.e. white crystal refined sugar, pharmaceutical grade sugar, EU grade sugar (foe exports), superfine sugars, sugar cubes and candy sugar.

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