TECHNO ELECTRIC & ENGINEERING CO: LITTLE CHANCE FOR APPRECIATION
Article Abstract:
Techno Electric & Engineering Co Ltd is coming out with a rights offer to raise Rs5.28 crore and is issuing 13.19 lakh shares to its shareholders in the ratio of 1:1. This is to finance margin money requirement so as to take additional credit from banks. The company's paid-up capital will increase to Rs2.64 crore from Rs1.32 crore after the issue. It undertakes turnkey projects for the core sector industries, mainly power plants. Its scrip is not traded frequently on the stock exchanges since liquidity is low as the promoters hold a very large stake of 69.5 percent in the company. (khr)
Comment:
Techno Electric & Engineering Co Ltd is coming out with a rights offer to raise Rs5.28 crore and is issuing 13.19 lakh shares to its shareholders in the ratio of 1:1.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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ICL GETS SEBI CLEARANCE FOR RIGHTS ISSUE
Article Abstract:
India Cements Ltd (ICL) of Chennai has been cleared by the Securities and Exchange Board of India (Sebi) to tap the market with a rights issue. ICL proposes to go in for a Rs160 crore issue in the ratio of 1:1, priced a premium of Rs15 per share. The proceeds of the issue will be utilised to takeover Raasi Cements Ltd of Hyderabad. (uh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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