TRF touches roof on allotting OCRPS aggregating Rs 13 crore to Tata Steel
TRF is locked its upper circuit limit at Rs. 120.55, up by 5.70 points or 4.96% from its previous closing of Rs. 114.85 on the BSE.
The scrip opened at Rs. 120.30 and has touched a high and low of Rs. 120.55 and Rs. 120.30 respectively. So far 358 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.15 on 30-Jun-2021 and a 52 week low of Rs. 95.50 on 17-May-2021.
Last one week high and low of the scrip stood at Rs. 132.00 and Rs. 113.00 respectively. The current market cap of the company is Rs. 132.66 crore.
The promoters holding in the company stood at 34.12%, while Institutions and Non-Institutions held 0.02% and 65.85% respectively.
TRF’s board has approved allotment 1,30,00,000, 11.25% non-cumulative, optionally convertible, non-participating redeemable preference shares (OCRPS) of Rs 10 each, aggregating Rs 13 crore, under Series-2, (OCRPS-Series-2) to Tata Steel, on private placement basis, on terms and conditions as approved by the Board. The OCRPS will be unlisted. The Committee of Directors, as authorized by the Board of Directors (Board) at its meeting held on May 13, 2022 approved the same.
TRF has been engaged in the business of designing & manufacturing of the Bulk material handling systems and equipments for core sector industries such as power, ports, steel, mining and cement for projects undertaken on Turnkey basis.
