Comments
Coromandel Engineering has approved a rights issue of shares, according to information provided by the company on the BSE.
Coromandel Engineering said the Rights Issue Committee of its board at a meeting held on Friday, approved the rights issue at Rs 20 a share, including a premium of Rs 10. The ratio will be 91 shares for every 10 equity shares held on the record date, January 15, 2014.
On Friday, the shares of Coromandel Engineering closed at Rs 261, up 0.33 per cent on the BSE.
Promoters hold 74.61 per cent stake in the company and general public the rest.
The company reported a loss of Rs 7 crore for the September quarter and revenue of Rs 52.93 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.