Board of Shree Renuka Sugars approves preferential issue of shares to Promoter entity

At meeting held on 07 August 2020

The Board of Shree Renuka Sugars at its meeting held on 07 August 2020 has approved the following -

Issue of up to 2,11,670,481 Equity Shares of Re. 1/- per share for cash at a price of Rs. 8.74 per share aggregating to Rs. 185 crore on preferential basis to the company's Promoter, Wilmar Sugar Holdings subject to the approval of the shareholders of the Company. The main objects of the issue are as follows -

i. Redemption of Preference Shares issued by the Company, subject to approval of the Board of Directors of the Company.
ii. General Corporate Purposes

 

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