Financial Daily from THE HINDU group of publications
Thursday, Feb 19, 2004
Financial Daily from THE HINDU group of publications Thursday, Feb 19, 2004 |
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Markets
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Rights Issue Parry Agro plans rights issue to raise Rs 9.39 cr Our Bureau
Chennai , Feb. 18 PARRY Agro Industries Ltd plans to raise Rs 9.39 crore through a rights issue. It will issue 6.26 lakh shares of Rs 10 each at Rs 150 a share, according to information given by the company to the stock exchanges. Shareholders will get one share through the rights issue for every six shares they hold. Promoters hold 85.47 per cent of the equity, the public 11.41 per cent and private corporate bodies 3.09 per cent as on December 31, 2003. According to Parry Agro officials, the rights issue is mainly to bring down the company's debt, which is about Rs 140 crore.
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