News & Analysis » India
Murli Ind. To Raise Rs.1,000 Cr. Via Securities
(RTTNews) - Murli Industries Ltd. said its board considered raising Rs.1,000 crore through preferential issue of GDRs/ADRs/FCCBs/QIPs/IDRs/Domestic Public/Rights offering and/or other securities in the domestic/international market for financing the upcoming projects/repay the existing debts of the company.
The board alsorecommended a dividend of 20% or Re.0.40 per equity share of Rs.2 each for the fiscal year 2010.
The company said its board approved entering into IPP segment taking into account the existing experience of the company In Power Segment and continuous demand of power in country. It has empowered Managing Director to take necessary step to conduct the feasibility study about the project, identify the location, acquire the land for the project and apply for the required licenses, approvals including application for allotment of coal block..
At the BSE, Murli Ind. shares are now trading at Rs.103.45, up by 1.22% from the previous close.
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