Home » News » Kiri Inds soars on fund raising plan/news05012012
Kiri Inds soars on fund raising plan/news05012012
News
Thursday, January 05, 2012
Kiri Industries' shares rose by 5%, touching the weekly high of Rs75.25, after the company scheduled a board meeting on 9 January 2012, to consider raising funds through various modes.
Kiri Industries board of directors meet on January 09, 2012, to consider and approve alongwith other business to raise fund upto Rs300 crore by way of QIPs/FCCBs/GDRs/preferential allotment of equity or domestic convertible bonds and/or non-convertible debentures with warrants. The company is raising funds to reduce cost of funds by replacing higher cost debt with lower cost funds, and to strengthen capital base and for general corporate purposes.
At 9.41 am, Kiri Industries was trading at Rs75.25, up by 4.95%, with a volume of 8,448 shares on the BSE
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