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The shares of Shree Renuka Sugar gained as much as 3 per cent on preference share news.
Earlier on Monday, the board of directors of the company had approved the allotment of 21.167 crore equity shares of ₹1 a share, for cash at a price of ₹8.74 a share, aggregating to ₹185 crore on preferential basis to Wilmar Sugar Holdings Pte Ltd, promoter of the company.
According to June-end shareholding pattern, promoters hold 58.34 per cent stake and the rest 41.66 per cent by the public. Among the public shareholders include ICICI Bank, Axis Bank and IDBI Bank and Standard Chartered Bank. About 1.54 lakh small shareholders hold 10.40 per cent stake in Shree Renuka Sugars.
At noon, the shares of Shree Renuka Sugars trading at ₹9.15, up 3.39 per cent, on the NSE.
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