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18-May2018

Sunteck Realty strengthens on planning to raise funds up to Rs 2000 crore

Sunteck Realty is currently trading at Rs. 425.20, up by 4.95 points or 1.18% from its previous closing of Rs. 420.25 on the BSE.

The scrip opened at Rs. 422.00 and has touched a high and low of Rs. 430.00 and Rs. 421.00 respectively. So far 22421 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 485.00 on 24-Apr-2018 and a 52 week low of Rs. 205.00 on 04-Jul-2017.

Last one week high and low of the scrip stood at Rs. 457.60 and Rs. 416.80 respectively. The current market cap of the company is Rs. 6193.52 crore.

The promoters holding in the company stood at 66.75%, while Institutions and Non-Institutions held 28.22% and 5.03% respectively.

Sunteck Realty is planning to raise funds up to Rs 2000 crore either by way of QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB etc. or any other method for issue of fund in two manners. The first way is via Non-Convertible Debt up to an aggregate amount of Rs 1500 crore by way of private placement in one or more tranches and the second one is by way of equity shares and/or any other securities convertible into equity shares for an aggregate amount not exceeding Rs  500 crore in one or more tranches.

The meeting of the Board of Directors of the company will be held on May 23, 2018, to consider and approve the same.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.


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