/ Palred Technologies Flys Over 50% In Just Four Days On Preferential Issue To Florintree, Others ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 14 March 2017

Formerly known as Four soft, Palred Technologies has locked in upper circuit of Rs. 165.35 almost 10 percent of Sensex, after the board sanctioned the allotment of Equity shares worth of Rs 22 crore to Florintree Advisors and others.

The company will allot 1.52 million shares to investors on a preferential basis at Rs 145 a piece.

Palred Technologies said in a release on March 13, 2017, “Florintree led and advised investors are the lead participants in this round of preferential allotment. The investors include Mathew Cyriac (former Co-Head of Blackstone India Private Equity Business), Chidambaram Palaniappan (founder of Florintree), K. Madhavan (Joint Managing Director of Star TV India) and Bharat Sheth (Managing Director of Great Eastern Shipping),

Palred owns and operates LatestOne.com, a vertically integrated ecommerce company and India’s largest e-tailor of mobile accessories. The funds would be used for the general expansion of the ecommerce platform.

The stock was trading at its 52-week high and rallied 53% in past four trading days from Rs 108.15 on March 7, 2017.

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