TTK Prestige gains on raising Rs 106 crore

Shares of TTK Prestige were up nearly 2% at Rs 3,518 on raising Rs 106 crore through issue of equity shares at a premium.

Shares of TTK Prestige were up nearly 2% at Rs 3,518 after the company late Tuesday announced that it has raised Rs 106 crore through issue of equity shares at a premium.

TTK Prestige will issue on a preferential basis 300,000 equity shares of Rs 10/- each at a premium of Rs 3,450 per share to Cartica Capital Ltd, a Mauritius based entity, the company said in a release.

The price is at at premium to the two week average market price preceding the relevant data as presribed under the SEBI Regulations. About Rs 106.50 crore raised from this preferential allotment will enable TTK Prestige to pursue opportunities for further growth, both organic and inorganic, with minimum leverage, the release said.

Over 11,000 shares were traded on both the stock exchanges so far.