Shree Renuka Sugars has allotted shares worth Rs 27.21 crore to Standard Chartered Bank (SCB) against the part-conversion of its loan. The allotment committee of the Board of Directors approved the allotment of 1,64,35,338 equity share of face value of Re 1 at a price of Rs 16.56 per equity shares aggregating to Rs 27,21,69,197.28 to SCB. As a result, the paid up share capital of the company stands increased from about Rs 92.88 crore to Rs 94.52 crore.
Shree Renuka Sugars is a global agribusiness and bio-energy corporation. The company is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refiners in the world.