Arihant Superstructures hits 52-week high after board nods for Rs500cr fund raise

The current market cap of the company is Rs611.43cr.

Oct 05, 2021 03:10 IST India Infoline News Service

Arihant Group
Arihant Superstructures Ltd has informed to the Stock Exchanges that the Board of Directors of the Company in their Meeting held on Tuesday, have granted their consent for raising of funds of Rs500cr.

"The raising of funds takes place by issuance of securities by way of issuance of Securities through one or more permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement ("QIP"), follow-on public offering ("FPO") or a combination thereof, as may be considered appropriate by the Board, subject to shareholders' approval and regulatory and other approvals as may be required for an aggregate amount of up to Rs500cr.

At around 3:10 PM, Arihant Superstructures was trading at Rs159.55 apiece up by Rs11 or 7.4%, after hitting 52-week high at Rs163.40 per piece on the BSE. The current market cap of the company is Rs611.43cr.

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