Bombay Stock Exchange approves Manjushree for listing shares

Bangalore, Feb 27 (UNI) Bombay Stock Exchange had approved a city-based Manjushree Extrusions Ltd for listing and trading its equity shares 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 Rs ten each at a premium of Rs 35 per share, aggregating to Rs 35.70 crore.

Both the issues simultaneously closed on February sixth and the allotment of equity shares was made on February 20 as per the allotment approved by BSE.

The BSE had admitted Manjushree's shares for dealing in the list of 'B1' group of Securities under scrip code no 532950.

The fund raised through the composite issue was proposed to be utilised to part-finance the company's expansion-cum-diversification project at an estimated cost of Rs 53.70 crore, which is presently under implementation.

The company also availed a term-loan of Rs 18 crore from SBI to be utilised for its expansion and diversification plans.

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