Gujarat Toolroom Ltd approves rights issue

A meeting of the Board of Directors of Gujarat Toolroom Ltd was held on Monday, 28 Aug 2017 and the said meeting commenced at 12.30 pm & concluded at 5.15 pm.

The Board considered and decided the issue of equity shares on a right basis (Right Issue) upto Rs.20.00 Cr, to the existing shareholders of the company, subject to necessary approvals from statutory, regulatory and other authorities, as applicable, in accordance with the applicable provisions of the Companies Act, 2013, SEBI (ICDR) Regulations 2009.

The Board considered and decided to increase the Authorised Share capital of the company upto Rs. 12 Crores, subject to necessary approvals.

The Board also considered & formed a Committee of Directors (Right Issue Committee) comprising Mr. Vishal M. Shah, Managing Director, Mr. Bhavin S. Parikh & Mr. Kunjal Vora, directors of the Company.

Shares of GUJARAT TOOLROOM LTD. was last trading in BSE at Rs.13.3 as compared to the previous close of Rs. 13.26. The total number of shares traded during the day was 100 in over 2 trades.

The stock hit an intraday high of Rs. 13.3 and intraday low of 13.3. The net turnover during the day was Rs. 1330.

Source : Equity Bulls

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