Bangalore, Feb 27 (UNI) Bombay Stock Exchange has approved the city based Manjushree Extrusions Ltd (Manjushree) for listing and trading of its equity shares effective from tomorrow.
The approval of the BSE for listing its script was Consequent to successful closure of its recent composite issue comprising a Rights Issue of 42,10,800 equity shares of Rs 10 each at a premium of Rs 20 per share, and a follow on Public Offer of 5,12,6100 equity shares of Rs10 each at a premium of Rs. 35 per share, aggregating to Rs.
Both the issues simultaneously closed on February sixth and the allotment of equity shares was made on February 20 as per the basis of allotment approved by BSE.
The BSE has admitted Manjushree's shares for dealing in the list of 'B1' group of securities under scrip code no. 532950.
The press release said the fund raised through the composite issue is proposed to be utilized to part finance the Company's expansion cum diversification project at a cost of Rs. 53.70 crores, which is presently under implementation. The company also have availed a term loan of Rs 18 crore from SBI to be utilised for its expansion and diersification plans.
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