Company news: Mukand

The board of Mukand on Thursday approved issue of cumulative redeemable preference shares on private placement basis subject to shareholders’ approval. The company plans to raise ₹5.62 crore through the issue and the funds will be used to redeem 0.01 per cent cumulative redeemable preference shares, it said. Shares of Mukand closed 2.5 per cent higher at ₹34.55 on the BSE.