MBL Infrastructures shareholders approve fundraising of Rs300cr

On Sensex, the company stock finished at Rs22.30 per piece down 3.3%.

Aug 09, 2021 03:08 IST India Infoline News Service

MBL Infrastructures shareholders have approved raising of funds up to Rs 300cr.The approval was given at the 26th annual general meeting. 

Surender Aggarwal, Executive Director, DS Negi, CFO and Anubhav Maheshwari, Company Secretary while addressing the company officials on the outcome of the AGM said, "With the completion of several public interest projects post-approval of Resolution Plan under IBC, 2016, with enhanced bid capacity, the Company shall endeavour to win 4-5 large ticket size projects."

The trio added, "With the support of all the stakeholders, the approval of fundraising up to Rs 300 crores, with impetus of the Government on the infrastructure sector, the Company is now poised to be in the growth trajectory."

On Sensex, the company stock finished at Rs22.30 per piece down 3.3%.

The stock has touched an intraday high and low of Rs23.20 per piece and Rs21.85 per piece respectively earlier today.

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