The board of Vikas Ecotech has approved fund raising through preferential issue of shares and plans to allot 2.56 crore shares at Rs 17 per share.
In an interview with CNBC-TV18, MD Vikas Garg said promoters are not participating in the preferential issue and the stake of promoters will reduce to 42 percent from 43.5 percent post the allotment.
The company plans to raise Rs 40 crore from this issue and the amount raised will be used for further capital expenditure.Watch video for more.
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