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Board allows McNally to raise upto Rs 1.2 bn
December 5, 2012December 5, 2012by In Infrastructure Finance

Board allows McNally to raise upto Rs 1.2 bn

In a move that may contribute to the business growth of McNally Bharat Engineering, the board of the company cleared the proposal to issue non-convertible preference shares of up to Rs 120 crore in one or more tranches. Consequently, the board also permitted the raising of the authorised share capital of the firm to Rs 160 crore from Rs 40 crore earlier. In a communication to the stock exchange, the company said i