Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Money / Personal-finance/  Jay Shree Tea to meet over shares selling
BackBack

Jay Shree Tea to meet over shares selling

Jay Shree Tea to meet over shares selling

Premium

Kolkatta: Jay Shree Tea and Industries Ltd on Tuesday said in a stock market filing that its board would meet on 14 October to consider a proposal to sell shares.

The company needs cash for acquisitions, its managing director D.P. Maheshwari said. Cash could be raised by issuing global depository receipts, American depository receipts or by placing shares with institutional investors, according to him.

That apart, the management will also seek the board’s approval to increase borrowing limit by Rs50 crore.

In Thursday’s meeting, Jay Shree Tea’s board will also consider raising the cap on investment in the company’s shares by foreign institutional investors from 7% to 24%, Maheshwari added.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 12 Oct 2010, 08:40 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App