Hatsun Agro up 3 per cent; as board approves fund raising

Shital Jibhe / 07 Dec 2017

Hatsun Agro up 3 per cent; as board approves fund raising

The company's board has approved raising funds by way of issue of securities to the existing equity shareholders of the company on a right basis aggregating up to Rs. 900 crore, at its meeting held on Wednesday.

Share price of Hatsun Agro Products surged nearly by 3 per cent in the early trade on Thursday to Rs. 894, up Rs. 20.90, or 2.39 per cent on the BSE.

The company's board has approved raising funds by way of issue of securities to the existing equity shareholders of the company on a right basis aggregating up to Rs. 900 crore, at its meeting held on Wednesday.

The board has also constituted a Rights Issue Committee and authorised it to decide the terms and conditions of the rights issue including the nature of security, issue size, issue price, timing of the issue, rights entitlement ratio, record date and all other matters related and incidental to the rights issue in consultation with the lead manager to the rights issue.

The share touched its 52-week high of Rs. 970 per share on November 14, 2017 and 52-week low Rs. 343.55 on December 9, 2016. The share has shown a growth of 159 per cent in the last one year.

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