Sadbhav Infrastructure Project rose 1.18% to Rs 119.60 at 10:06 IST on BSE after the company said that its board of directors has considered and approved issuance of securities up to Rs 3000 crore.
The announcement was made during market hours yesterday, 6 June 2018.Meanwhile, the S&P BSE Sensex was up 242.79 points or 0.69% at 35,421.67.
On the BSE, 2,214 shares were traded on the counter so far as against average daily volumes of 4,883 shares in the past two weeks. The stock had hit a high of Rs 127.80 and a low of Rs 119.60 so far during the day. The stock had hit a record high of Rs 157.50 on 11 January 2018 and a 52-week low of Rs 89.65 on 27 September 2017.
The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.
The board of directors of Sadbhav Infrastructure Project has considered and approved raising of funds, by way of issuance of securities for an aggregate consideration of up to Rs 3000 crore.
The board also considered and approved allotment of 1,900 senior, taxable, secured, rated, unlisted, redeemable, Non-convertible Debentures (NCDs) to the applicants totally aggregating to Rs 190 crore having face value of Rs 10 lakhs each on private placement basis.
On a consolidated basis, Sadbhav Infrastructure Project reported net loss of Rs 84 crore in Q4 March 2018, compared with net loss of Rs 95.26 crore in Q4 March 2017. Net sales rose 95.78% to Rs 760.63 crore in Q4 March 2018 over Q4 March 2017.
Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.
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