PVR Ltd board approves fund raising of Rs. 300 crore

The board of directors ("Board") of PVR Limited ("Company"), in its meeting held today June 8, 2020, has approved the fund raising of up to Rs. 300 crore through issuance of equity shares of face value of Rs. 10 each ("Equity Shares") on rights issue basis (as decided by the Board of Directors or the Fund Raise Committee) to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("Rights Issue").

Further, the Board has authorized the Fund Raise Committee to proceed with Rights Issue and decide all other terms and conditions of the Rights Issue as may be required from time to time.

Shares of PVR LTD. was last trading in BSE at Rs.1159.5 as compared to the previous close of Rs. 1241.5. The total number of shares traded during the day was 413702 in over 33461 trades.

The stock hit an intraday high of Rs. 1349 and intraday low of 1130. The net turnover during the day was Rs. 503264796.

Source : Equity Bulls

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