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Sagar Cements board allots over 1.32 crore equity shares on preferential basis; Stock zooms 4%

Sagar Cements Limited has introduced that its Board of Administrators in its assembly held Could 07, 2022, allotted 1,32,07,548 fairness shares of face worth of Rs. 2 every at a difficulty worth of Rs.265/- per share, to PI Alternatives Fund – I Scheme II (“PIOF”), an affiliate of Premji Make investments, a number one Personal Fairness fund in India on a preferential foundation in accordance with the approval accorded by the shareholders at their Additional-Odd Normal Assembly held on April 23, 2022.

Pursuant to the above allotment, the paid-up fairness share capital of the Firm stands elevated from Rs.23,50,00,000/- to Rs.26,14,15,096/-.

The funding proceeds will probably be largely utilized in direction of assembly the natural and inorganic growth plans of the Firm together with funding its common company bills, mentioned  firm in a submitting.

At round 9:57 AM, Sagar Cements was buying and selling at Rs232.90 apiece up by Rs8.8 or 3.93% from its earlier closing of Rs224.10 apiece on the BSE.

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