Financial Daily from THE HINDU group of publications
Wednesday, May 26, 2004
Financial Daily from THE HINDU group of publications Wednesday, May 26, 2004 |
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Corporate
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Preferential Allotments Markets - Foreign Institutional Investors Sakthi Sugars pref allotment to FIIs Our Bureau
Chennai , May 25 SAKTHI Sugars will raise over Rs 18 crore through preferential allotment of 36.41 lakh equity shares of Rs 10 each to foreign institutional investors, according to company officials. The company has informed the stock exchanges that its board, at a meeting on Monday, decided to make the preferential allotment. Officials said they would allot 18 lakh shares each to two FIIs: Global Small Cap Fund and GMO Foreign Small Companies Fund, at Rs 50 a share. The move will bring down the promoters' shareholding to 42 per cent from 44 per cent in January, when it brought in Rs 15 crore through preferential allotment to FIIs, they said.
More Stories on : Preferential Allotments | Foreign Institutional Investors | Sugar
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