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Astra Microwave Products has informed the exchanges that the QIP committee of the company on Wednesday approved allotment of 47.86 lakh equity shares of face value ₹2 each to eligible qualified institutional buyers at an issue price of ₹135.80 a share. Through the allotment the company has raised about ₹65 crore. Shares of Astra Microwave Products ended down 0.6 per cent at ₹133.75 on the NSE.
Bhushan Steel resumed operations at its Sahibabad plant in Uttar Pradesh, which was ordered shut by the National Green Tribunal for four days on allegations of environment pollution, the company said in an exchange filing on Wednesday. The environment watchdog last Friday ordered the shutdown based on an application filed by environment activist Shailesh Singh. The petition alleged that Bhushan Steel, among other industries in the area, was contaminating ground water reserves and extracting high-quality ground water without permission of the Central Ground Water Authority. The Sahibabad plant, which produces cold-rolled coils, galvanised products, strips and colour-coated products, is the company’s second-largest unit. Shares of Bhushan Steel closed 5.8 per cent higher at ₹44.60 on the NSE.
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