Comments
Puravankara shares rose about 2 per cent on Friday after the company’s board granted in‐principle approval to raise funds through QIP up to ₹1,000 crore.
According to the stock exchange disclosure, the instruments to be issued under QIP may be equity shares, debentures (NCD/PCD/FCD) or preference shares.
The board also approved providing a corporate guarantee in favour of Piramal Enterprises for a rupee term loan facility of ₹90 crore to be obtained by Provident Housing Ltd, a wholly-owned subsidiary, to meet the cost of acquisition of a project land situated at Dabolim, Goa.
Puravankara stock price rose 1.16 per cent on the NSE, trading at ₹440.40 as of 11.31 am.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.