Parrys Sugar to raise Rs 60 cr through preferencial share issue

Company has approved issue of 8% preference shares of Rs 10 each

Parrys Sugar Industries Ltd, part of Murugappa Group, is planning to raise around Rs 60 crore through issuing preferencial shares to the promoters or any other investors.

The company has informed the Bombay Stock Exchange that the members of the company has approved the issue of eight% preference shares of Rs 10 each aggregating to a nominal amount upto Rs 60 crore from time to time in one or more traches to the promoters or to any other investors on terms and conditions determined by the Board of the Committee.