Murli Industries to raise Rs 10 Bln for new project

MUMBAI (Makemystocks): Murli Industries Ltd (BOM 519323) has decided to raise ten billion rupees to fund for its new cement and power projects as well as to repay the existing debts.

Murli Industries said the board has approved raising funds via a host of share sale options that includes global depository receipt, American depositary receipt, foreign currency convertible bonds or qualified institutional placements.

The board has also dropped plans to sell stake in Chandrapur cement plant. The company's board has recommended 40 paise per share dividend.

Today, Murli Industries shares trade at Rs 102.95 on Bombay Stock Exchange, up 1.72% from previous close.