Gangotri Iron to raise Rs 150 mn for expansion
Gangotri Iron to raise Rs 150 mn for expansion >The board of directors of Gangotri Iron and Steel Company, at its meeting held on Sep. 28, 2007, decided to raise funds upto Rs 150 million to meet the financial requirement of its ongoing expansion and diversification.
The fund may be raised through various avenues available like rights issue, preferential issue etc.
For this purpose, the managing director of the company was asked to appoint an advisor and go ahead with the necessary formalities including obtaining approvals from various authorities as required after the scheme is formulated.
Shares of the company gained Rs 0.75, or 1.74%, to settle at Rs 43.95. The total volume of shares traded was 99,452 at the BSE.(Friday)
