JMC Projects (India) Ltd approves rights issue offer letter

The Board of Directors of JMC Projects (India) Ltd in its Board Meeting held on December 31, 2015 have approved the Letter of Offer for Rights Issue.

The Rights Equity shares are being offered on a rights basis to the existing equity shareholders in the ratio of 2 equity shares for every 7 equity shares held as on the record date. The record date for rights entitlement has been fixed as January 12, 2016.

The Issue Price per equity share will be Rs. 201 per equity share (including a premium of Rs. 191 per equity share of face value of Rs. 10 each).

7462686 equity shares are being offered under the rights issue and the size of the rights issue is Rs. 14,999.999 lacs. The entire issue price for the equity share is payable on application.

The outstanding equity shares prior to the rights issue is 2,61,18,348 equity shares of face value Rs. 10 each and the outstanding equity shares post rights issue will be 3,35,81,034 equity shares of face value of Rs. 10 each.

Shares of JMC PROJECTS (INDIA) LTD.-$ was last trading in BSE at Rs.256 as compared to the previous close of Rs. 250.4. The total number of shares traded during the day was 2615 in over 103 trades.

The stock hit an intraday high of Rs. 256.6 and intraday low of 247.6. The net turnover during the day was Rs. 659868.

Source : Equity Bulls

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