CMI Limited has scheduled an EGM for March 21st for shareholder approval of the company's proposed preferential share issue plan. CMI has proposed the issue of 500,000 equity shares of face value Rs 10 each, issued on a preferential basis to the promoters and promoter group at a price of Rs. 300 per share. This would include a premium of Rs. 290 per share.
CMI has been trading sharply up in stock markets this week.