Refex Industries Limited announces rights issue

The Board of Directors of Refex Industries Limited, in its Meeting held on June 10, 2020, have considered and approved the following details pertaining to the proposed rights issue of equity shares of face value of Rs. 10/-each.

Rights Entitlements Ratio - 5 equity shares for every 14 Equity shares (5:14) held by the shareholders as on the Record Date ("Eligible Shareholders")

Issue price per Rights Equity Share - Issue price of Rs. 45/-(including a premium of Rs. 35/-per Rights Equity Share) for every Rights Equity Share of face value of Rs. 10/-each.

Size of the Issue - 5,526,848 fully paid-up equity shares of face value of Rs. 10/-each for cash at a price of Rs. 45/-(including a premium of Rs. 35/-) per Equity Share for an amount aggregating upto Rs. 248,708,160/-on a rights basis to the Eligible Equity Shareholders of our Company.

Terms of payment - The full amount of Issue Price of Rs. 45/-is payable on application.

Record Date - June 17, 2020 shall be the record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue.

Shares of Refex Industries Limited was last trading in BSE at Rs.53.7 as compared to the previous close of Rs. 55.3. The total number of shares traded during the day was 33274 in over 352 trades.

The stock hit an intraday high of Rs. 54.65 and intraday low of 51.15. The net turnover during the day was Rs. 1763242.

Source : Equity Bulls

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