Vimal Oil and Foods, an edible-oil manufacturer, plans to raise as much as Rs 29 crore (USD 6.5 million) by selling additional shares.The company plans to sell 9.67 million new shares at Rs 30 per share starting March 14 , the Ahmedabad-based company said.
The founders will buy 2.5 million shares of the offer at Rs 30 per share, reducing the net public offer to 7.17 million shares.Vimal Oil, whose shares are traded on the Bombay Stock Exchange and the Ahmedabad Stock Exchange, also plans to raise Rs 6.82 crore by offering three shares for every five held by existing shareholders at Rs 25 per share.
Posted by rupya at 11:09 PM
March 12, 2007
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