Reliance Chemotex Industries Ltd approves rights issue

The Board of directors of Reliance Chemotex Industries Ltd has approved the Issuance of Equity Shares on right basis to existing shareholders of the Company on a record date in accordance with Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended and other applicable law.

Further, for the purpose of giving effect to the right issue, the Board constituted a Committee called as 'Executive Committee' and delegated the power to appoint the Merchant Banker and to decide the structure, term and conditions of the issue including but not restricted to instrument option, rights entitlement , issue price, record date, timing of issue and other relevant matter. 2. The Board also approved the redemption of 23,07,500-10% cumulative Redeemable preference shares of Rs. 10/- each and authorized the Executive Committee to take all necessary actions in this regard.

Shares of RELIANCE CHEMOTEX INDUSTRIES LTD. was last trading in BSE at Rs.75.75 as compared to the previous close of Rs. 77.8. The total number of shares traded during the day was 1451 in over 31 trades.

The stock hit an intraday high of Rs. 80 and intraday low of 75.75. The net turnover during the day was Rs. 113471.

Source : Equity Bulls

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