It company board also approved raising funds by issue of equity shares.
Shares of Sakuma Exports added nearly 10 percent intraday Friday after board approved the sub division of its equity shares.
Company board approved sub-division of equity shares of the company from the existing face value of Rs 10 per equity share to face value of Re 1 per equity share, subject to approval of the members of the company.
It also approved raising funds by issue of equity shares, as may be permitted, by way of a qualified institutions placement (QIP)/ Foreign portfolio Investment (FPI) or any other placement for an aggregate amount not exceeding Rs 800 crore.
At 14:42 hrs Sakuma Exports was quoting at Rs 218.95, up Rs 16.90, or 8.36 percent.Posted by Rakesh Patil