Rohit Ferro-Tech Board approves issue of Convertible Warrants

The Company at its meeting held on June 03, 2015 has considered and approved the Issue of 7,12,05,000 Convertible Warrants of nominal value of Rs. 10 each at a price of Rs. 20 per warrant.

Jun 04, 2015 09:06 IST India Infoline News Service

Rohit Ferro-Tech Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on June 03, 2015 have considered and approved the Issue of 7,12,05,000 Convertible Warrants of nominal value of Rs. 10/- each at a price of Rs. 20/-per warrant to the promoter and non-promoter group on preferential basis, subject to the approval of the shareholders.

The stock of the company is trading up by 12.36% at Rs. 7.09. It has hit a high of Rs. 7.25 and low of Rs. 6.55.

Promoted by  S K Patni, RFTL started its journey in 2003 with a humble capacity of 24,000 TPA from its 2 x 9 MVA furnaces in Bishnupur, West Bengal. With its continuous expansions every year, the group now has a total installed capacity of 2,74,583 mtpa.

On the side of backward integration, RFTL has acquired economic interest in coal mines in Indonesia securing thermal and coking coal requirements of its manufacturing facilities.

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