The Hindu Business Line : Nagarjuna EGM okays pref issue

HYDERABAD: The extraordinary general meeting of Nagarjuna Construction Company (NCC) Ltd has given approval for issue of three million equity shares on a preferential basis at Rs 278 per share to select investors and promoters. The issue would generate Rs 111.20 crore.

The EGM held on Tuesday also gave its nod for issue of one million warrants on a preferential basis at the same rate.

ICICI Venture Funds Management Company Ltd would pick up preferential shares worth Rs 61.16 crore.

Mr Rakesh Jhunjhunwala, an investor and trader, was allotted shares worth Rs 13.90 crore, while promoters were allotted shares worth Rs 8.34 crore, a release said.

The EGM also approved the issue of three lakh equity shares of Rs 10 each at a premium of Rs 100 to the employees under the Employees Stock Option Plan.

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