• PAGE ONE
• INDEX
• HOME

Kaashyap share placement plans

Rajesh Chandramouli

CHENNAI, March 30

KAASHYAP Radiant Systems Ltd (KRSL) is likely to place one lakh shares on preferential basis to Prudential ICICI Mutual Fund at Rs. 160 per share.

According to a senior company official, the board would meet tomorrow to formalise the placement. This would be the second tranche of placement, the first one was done in the beginning of this month.

He said that apart from Prudential ICICI, some high networth individuals would also be allotted around 40,000 shares.

Under the first tranche, KRSL placed about 14.53 lakh shares at Rs. 160 per share. The allottees were, SBI Mutual Fund, Sun F&C Mutual Fund, Kotak Mahindra Mutual Fund, Birla Mutual Fund and Reliance Mutual Fund. UTI was also shortlisted then, but subseq uently it opted out of the offer, according to the official. Shareholders of the company had voted to hike the authorised share capital from Rs. 10 crores to Rs. 20 crores.

Since the 90 day period is still open, KRSL would come out with a third tranche of allotments within the next ten days, the official said.

The company's share price closed at Rs. 149.10 at the Madras Stock Exchange today.