IP Rings Ltd approves 4:5 rights issue

The Board of Directors of IP Rings Ltd have taken decision on the ratio and pricing details, at their Meeting held on January 04, 2017, in connection with the proposed Rights Issue.

The Rights Entitlement Ratio has been fixed as 4 (Four) Rights Equity Shares for every 5 (Five) Equity Shares held on the Record date.

The Offer Price is fixed as Rs. 88.75 (FV Rs. 10/- per Share + Premium Rs. 78.75 per Share).

Shares of IP RINGS LTD. was last trading in BSE at Rs.240.1 as compared to the previous close of Rs. 200.1. The total number of shares traded during the day was 58653 in over 422 trades.

The stock hit an intraday high of Rs. 240.1 and intraday low of 205. The net turnover during the day was Rs. 13895834.

Source : Equity Bulls

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