Srinivasa Shipping & Property Development Limited announces record date for Rights issue

Srinivasa Shipping & Property Development Limited has fixed the Record Date for the purpose of Rights Issue. The company has announced that May 03, 2007 will be the Record Date for the purpose of Right Issue of Equity Shares.

Bombay Stock Exchange has announced that the transactions in the equity shares of the company should be done on an ex-rights basis with effect from 24-April-2007. The last date for the shares to traded Cum-Right basis is 23-April-2007.

The company is planning to issue 2 Equity Shares of Rs.10/- each for cash at a premium of Rs.8/- per equity share on rights basis for every 1 existing equity share held.

The stock closed the day at Rs.208.50, up by Rs.8.35 or 4.17%. The stock hit an intraday high of Rs.234 and low of Rs.198.10. The total traded quantity was 26152 compared to 2 week average of 13134.

Source : Equity Bulls

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