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The company said that it may issue securities including convertible preference shares, and/or bonds including foreign currency convertible bonds / debentures / non-convertible debt instruments along with warrants / convertible debentures / securities and / or any other equity based instrument(s) or any combination thereof in one or more tranches on private placement.
The civil construction firm shall consider preferential allotment or through one or more qualified institutional placement and / or further public issue of equity and/or rights issue and/or through any other permissible mode.
The proposal is subject to receipt of necessary approvals, including the approval of the members of the company and such other regulatory and statutory approvals as may be required.
Power Mech Projects s an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).
The company's consolidated net profit jumped 29.1% to Rs 50.99 crore on 15.9% increase in net sales to Rs 865.13 crore in Q1 FY24 over Q1 FY23.
The scrip closed 0.61% lower at Rs 3,899.90 on the BSE.
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