Arihant Superstructures Ltd board approves fund raising of Rs. 500 crores

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The Board of Directors of Arihant Superstructures Limited in their Meeting held on Tuesday, 05h October, 2021 have granted their consent for raising of funds by issuance of securities by way of issuance of Securities through one or more permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement (“QIP”), follow-on public offering (“FPO”) or a combination thereof, as may be considered appropriate by the Board, subject to shareholders’ approval and regulatory and other approvals as may be required for an aggregate amount of up to Rs. 500.00 Crores.

Further, the Shareholders approval for the same shall be obtained through Extra Ordinary General Meeting in due course and Board of Director has also constituted a Fund Raising Committee for the said purpose.

Shares of Arihant Superstructures Limited was last trading in BSE at Rs. 161.6 as compared to the previous close of Rs. 148.55. The total number of shares traded during the day was 50759 in over 898 trades.

The stock hit an intraday high of Rs. 163.4 and intraday low of 148.1. The net turnover during the day was Rs. 8043108.