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BSE   14 Jun 19 | 12:00 AM

15.00 0.8 (5.63%)
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Code: 509048
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1 Month : Rs 14.00 (7.14%)
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Lancor Holdings up 4% on QIP issue plan

SI Reporter / Mumbai 31 Mar 10 | 09:39 AM

Lancor Holdings is trading up 4% at Rs 111 after the company announced that it will open books for institutional investors to mobilize the funds through qualified institutional placement (QIP) in next seven days.
 
The board of directors of the company at its meeting held on March 29 has approved the preliminary placement document for issue of six million equity shares via QIP Issue. The company plans to mobilize around Rs 75 crore through the issue, for capital expansion and to repay the debt. Post QIP, the company’s paid up capital will increase to Rs 60 crore from Rs 4.5 crore.
 
The stock opened at 5% higher over its previous day’s close of Rs 107 on the BSE. Around 4,000 equity shares changed hands in the counter so far.

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