Pratibha Industries rises 16%, to issue shares to its lenders

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Moneycontrol BureauShares of Pratibha Industries gained 16 percent intraday Thursday as the company is going to consider issue of shares to its lenders.The company's board meeting is scheduled to be held on January 4, 2017 to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.The company has taken approval of its members vide special resolution passed through postal ballot concluded on November 05, 2016.At 13:40 hrs Pratibha Industries was quoting at Rs 12.95, up Rs 1.27, or 10.87 percent on the BSE.Posted by Rakesh Patil