(Photo source: Polo Queen Industrial And Fintech website)
Shares of Polo Queen Industrial And Fintech Ltd. rose on Friday after its board approved raising up to Rs 2,500 crore for its proposed agro-processing and data-centre project in Maharashtra.
It will raise the funds by issuing equity shares or other instruments through one or more preferential issues on a private-placement basis or rights issue or qualified institutional placement or through a mix of any, according to an exchange filing on Thursday.
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Shares of Polo Queen surged 7.28% intraday, the most since May 17. The stock is trading 0.24% higher at Rs 42 apiece as of 10.51 am, compared to a 0.17% rise in the S&P BSE Sensex.
The total traded volume stood at 4.8 times its 30-day average. The relative strength index was at 55.49.