TRF touches roof on raising Rs 165 crore from Tata Steel
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TRF is currently trading at its upper circuit limit of Rs. 141.45, up by 6.70 points or 4.97% from its previous closing of Rs. 134.75 on the BSE.
The scrip opened at Rs. 140.85 and has touched a high and low of Rs. 141.45 and Rs. 140.00 respectively. So far 6744 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. 98.55 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 142.00 and Rs. 133.75 respectively. The current market cap of the company is Rs. 155.66 crore.
The promoters holding in the company stood at 34.12%, while Institutions and Non-Institutions held 0.02% and 65.85% respectively.
TRF has raises Rs 165 crore from Tata Steel. In this regards, the Committee of Directors, as authorized by the company's Board of Directors at its meeting held on June 8, 2022 approved the allotment of 16,50,00,000, 12.17% (effective yield) non-cumulative, non-convertible, non-participating, redeemable preference shares of face value Rs 10 each, at par, for consideration in the form of cash, aggregating to Rs 165 crore, (NCRPS Series-1) to Tata Steel, on private placement basis. The NCRPS will be unlisted.
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.
