The announcement was made after trading session on Tuesday, 4 December 2012.
Meanwhile, the BSE Sensex was up 95.39 points, or 0.49%, to 19,443.51.
On BSE, 1.25 lakh shares were traded in the counter as against an average daily volume of 16,866 shares in the past one quarter.
The stock hit a high of Rs 263.35 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 238 so far during the day. The stock had hit a 52-week low of Rs 140.05 on 20 December 2011.
The stock had outperformed the market over the past one month till 4 December 2012, rising 3.64% compared with the Sensex's 3.16% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.28% as against Sensex's 10.94% rise.
The small-cap company has an equity capital of Rs 34.11 crore. Face value per share is Rs 10.
The board of Tree House Education & Accessories approved raising Rs 41.18 crore through allotment of 18.50 lakh shares of Rs 222.60 each on preferential basis. As per the approval, the company will issue 4.50 lakh shares to ON Mauritius and 14 lakh shares to Aditya Birla Trustee Company (on behalf of Aditya Birla Private Equity - Sunrise Fund) on preferential basis.
On Mauritius held 8.90 lakh shares, or 2.61% stake in the company as on 30 September 2012.
Further, the board has also approved issuing 18 lakh warrants to promoters of the company, Rajesh Bhatia and Geeta Bhatia. Each warrant is convertible into one equity share of Rs 222.60 each, aggregating to Rs 40 crore, within 18 months from the date of allotment.
As on 30 September 2012, Rajesh Bhatia held 39.05 lakh shares, or 11.45% stake and Geeta Bhatia held 60.25 lakh shares, or 17.66% stake in the company.
Tree House Education & Accessories said it would hold an extraordinary general meeting (EGM) on 27 December 2012 to seek shareholders approval for the proposed fund raising through preferential allotments.
Net profit of Tree House Education & Accessories rose 88.4% to Rs 9.93 crore on 61.6% rise in net sales to Rs 28.28 crore in Q2 September 2012 over Q2 September 2011.
Tree House Education & Accessories is one of the leading providers of educational services in India. It operates the largest number of self-operated pre-schools in India.
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