Goodluck India to raise Rs 96 cr

New Delhi: Specialty steel producer Goodluck India on Wednesday said it plans to raise Rs 96 crore through issuance of shares, warrants on preferential basis. In a regulatory filing, the company also informed incorporating wholly-owned subsidiary Goodluck Defence and Aerospace Pvt Ltd to carry on the business in the defence sector. The company plans to issue up to 5 lakh warrants, on a preferential basis to the promoter category, at an exercise price of Rs 600 per share of face value of Rs 2 each, it said. Besides, the company will issue up to 11 lakh equity shares, on a preferential basis to the non-promoter category, at an exercise price of Rs 600 per share of face value of Rs 2 each. The total fund proposed to be raised is Rs 96 crore, of which Rs 40 crore will be used as an investment in the new subsidiary, the filing said.