Hatsun Agro Product Ltd Board approves Rights Issue of equity shares

The Board of Directors of Hatsun Agro Product Ltd at its meeting held on June 25, 2012, has approved the issue of equity shares on rights basis to the existing shareholders amounting to a maximum of Rs. 50 Crores.

The Board approved formation of a Committee (Rights Issue Committee) consisting of Mr. P. Vaidyanathan, Non-Executive and Independent Director (Chairman for the Rights Issue Committee), Mr. K. S. Thanarajan, Joint Managing Director and Mr. C. Sathyan, Executive Director and delegation of all the powers to the Committee including but not limited to decide the pricing and terms of the securities, to appoint Lead Managers and other intermediaries in consultation with the Lead manager, to approve draft and final letter of offer, to seek listing of securities to be issued on rights basis with concerned stock exchange, to finalise basis of allotment etc.

The Hatsun Agro Product Ltd stock closed the day at Rs.84.50, down by Rs.2.35 or 2.71%. The stock hit an intraday high of Rs.86.20 and low of Rs.82.50.

The total traded quantity was 2262 compared to 2 week average of 10825.

Source : Equity Bulls

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