Jyothy Laboratories has moved higher by over 7% at Rs 202 after the household products maker said it has raised around Rs 273 crore by issuing shares to Sahyadri Agencies on preferential basis.
“The preferential allotment committee of the board of directors of the company at its meeting held on December 03, 2013, has allotted 15 million equity shares of the company of Re 1 each to Sahyadri Agencies Limited on preferential basis at the issue price of Rs 175.15 per share against receipt of entire amount payable by Sahyadri Agencies in cash aggregating to Rs 262.72 crore,” Jyothy Laboratories said in a regulatory filing.
The stock opened at Rs 190 and hit a high of Rs 208 on the BSE. A combined 483,000 shares have changed hands on the counter till noon deals on the BSE and NSE.
“The preferential allotment committee of the board of directors of the company at its meeting held on December 03, 2013, has allotted 15 million equity shares of the company of Re 1 each to Sahyadri Agencies Limited on preferential basis at the issue price of Rs 175.15 per share against receipt of entire amount payable by Sahyadri Agencies in cash aggregating to Rs 262.72 crore,” Jyothy Laboratories said in a regulatory filing.
The stock opened at Rs 190 and hit a high of Rs 208 on the BSE. A combined 483,000 shares have changed hands on the counter till noon deals on the BSE and NSE.