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Home arrow News arrow Business News arrow Ramkrishna Forgings Ltd to raise Rs 53.75 crore for it's growth plans
Ramkrishna Forgings Ltd to raise Rs 53.75 crore for it's growth plans Print E-mail
Written by Satish   
Friday, 29 January 2010
Kolkata: Ramkrishna Forgings Ltd, a manufacturer of steel forgings for automobile, railway, defence and mining sectors, has decided to issue 11 lakh shares and 39 lakh warrants on a preferential basis at Rs 107.50 per share to non promoters and a promoter entity to raise Rs 53.75 crore for its growth plans.

The company's board approved the issue up to 10 lakh shares of face value of Rs 10 each and issue up to 10 lakh warrants to non promoter investors. It also decided to issue up to one lakh equity shares and up to 29 lakh warrants to Eastern Credit Capital Ltd, a promoter group entity.

The board approved increasing the authorised capital of the company from Rs 18 crore to Rs 21 crore. An extra odinary general meeting of the shareholders will be held on February 17 for this purpose.

The company has posted a Profit After Tax of Rs 3.8 crore in the quarter to December 31, 2009 against a net loss of Rs 2.05 crore in the corresponding period in the previous fiscal.

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