Mukand is planning to raise Rs 154 crore through rights issue in the ratio of 1:1. The company has priced the issue at Rs 21 per share, including premium of Rs 11 per share. The company’s board gave approval for the same at the meeting held on January 30, 2014.
The company is weighed down by a huge finance cost that saw it make losses even after making a sizable profit quarter-on-quarter.
During the last fiscal (2012-13), the company earned a net profit of Rs 58.71 crore on a turnover of Rs 2,280.52 crore. But a huge finance cost of Rs 215.38 crore saw it post a loss of Rs 156.66 crore.
Mukand, earlier known as Mukand Iron & Steel Works, is engaged in manufacturing of alloy and stainless steel long products. The company operates in four segments namely steel, industrial machinery, road construction and other products.
Company Name | CMP |
---|---|
JSW Steel | 919.70 |
Tata Steel | 183.05 |
SAIL | 153.65 |
Jindal Stainless | 815.60 |
Jindal Saw | 560.50 |
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