Safari Industries gets nod to raise funds up to Rs 51 crore

22 Sep 2017 Evaluate

Safari Industries (India) has received an approval to raise funds up to Rs 51 crore by way of preferential allotment. The Board of Directors of the Company at their meeting held on September 21, 2017 has approved the same.

The company has planned to issue up to 12,50,000 Equity shares of Rs 2 each at a price of Rs 340 per share (inclusive of premium of Rs 338 per share) aggregating to Rs 42.50 crore on Preferential basis to Malabar India Fund. Post allotment of the said shares, the shareholding of Malabar India Fund will be 13,12,525 shares representing 5.90% of the paid up share capital, while it will issue up to 2,50,000 Equity shares of Rs 2 each at a price of Rs 340 per share (inclusive of premium of Rs 338 per share) aggregating to Rs 8.50 crore on Preferential basis to Malabar Value Fund. Post allotment of the said shares, the shareholding of Malabar Value Fund will be 2,65,500 shares representing 1.19% of the paid up share capital.

Safari Industries (India) manufactures injection-moulded plastic articles and vacuum-formed plastic articles.

Safari Industries(I) Share Price

2688.25 -10.45 (-0.39%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Hindustan Unilever 2334.95
Godrej Consumer Prod 1070.45
Dabur India 501.90
Colgate Palmol. (I) 2750.95
P&G Hygiene 15115.45
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.