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The announcement was made after market hours yesterday, 8 March 2017.
Meanwhile, the S&P BSE Sensex was up 0.19 points or at 28,902.13
On the BSE, 8.19 lakh shares were traded on the counter so far as against the average daily volumes of 7.12 lakh shares in the past one quarter. The stock had hit a high of Rs 15.95 and a low of Rs 15.40 so far during the day. The stock had hit a 52-week high of Rs 19.18 on 15 June 2016 and a 52-week low of Rs 11.47 on 23 December 2016.
The small-cap company has equity capital of Rs 92.88 crore. Face value per share is Rs 1.
Shree Renuka Sugars said that as per the rectification package approved by the Joint Lenders' Forum (JLF) under the Corrective Action Plan, the allotment committee of the board of directors of the company has approved the allotment of 1.64 crore equity shares at Rs 16.56 per share to Standard Chartered Bank (SCB), one of the JLF Lenders in lieu of and against the conversion of a part of the loans availed by the company from SCB.
Shree Renuka Sugars reported a net loss of Rs 42 crore in Q3 December 2016, higher than net loss of Rs 24.10 crore in Q3 December 2015. Net sales rose 33.4% to Rs 2041.40 crore in Q3 December 2016 over Q3 December 2015.
Shree Renuka Sugars is one of the leading sugar manufacturers in India.
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