Poddar Housing and Development touches roof on planning to raise funds upto Rs 20 crore
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Poddar Housing and Development is currently trading at upper limit of Rs. 142.25, up by 6.75 points or 4.98% from its previous closing of Rs. 135.50 on the BSE.
The scrip opened at Rs. 136.00 and has touched a high and low of Rs. 142.25 and Rs. 131.00 respectively. So far 6459 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 275.00 on 22-Nov-2022 and a 52 week low of Rs. 80.91 on 03-Apr-2023.
Last one week high and low of the scrip stood at Rs. 142.25 and Rs. 125.55 respectively. The current market cap of the company is Rs. 89.84 crore.
The promoters holding in the company stood at 61.02%, while Institutions and Non-Institutions held 5.03% and 33.96% respectively.
Poddar Housing and Development is planning to raise funds upto Rs 20 crore by way of a preferential issue /private placement including a qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate by way of issue of equity shares or any other eligible securities subject to all such regulatory/ statutory approvals as may be required including the approval of shareholders of the Company. A meeting of the Board of Directors of the Company is scheduled to be held on October 30, 2023 inter-alia to consider and approve the same.
Poddar Housing and Development is an unusual real estate development company. Over the years, the company has selected to largely focus on the housing opportunities coming out of MMR region. Instead of focusing on the premium segment, the Company largely focused on the relatively unaddressed lower income housing segment of Mumbai Metropolitan Region (MMR) region, arguably the only listed company with this focus.
