Mold-Tek Packaging Ltd boad approves rights issue of Rs. 90 crore

The board of directors of Mold-Tek Packaging Ltd ("Board"), at its meeting held today, i.e., September 21, 2020 considered and approved, amongst others, the issuance of equity shares (fully paid-up or partly paid-up), share warrants, other eligible securities, convertible securities or a combination of the any of the aforementioned securities of the Company as is permitted under the Securities and Exchange Board (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended ("SEBI ICDR Regulations"), on rights basis to eligible shareholders of the Company as on the record date (to be decided subsequently) for an aggregate amount not exceeding Rs. 90 crores (Rs. Ninety Crores only) (the "Issue"). Further the final issue size/amount shall be decided by the "Committee of Directors." (Rights Issue)

The Board has appointed Emkay Global Financial Services Limited as the lead manager to the Issue and constituted a Committee of Directors (Rights Issue) to decide the other terms and conditions of the Issue including the record date.

Shares of Mold-Tek Packaging Limited was last trading in BSE at Rs.285.15 as compared to the previous close of Rs. 288.25. The total number of shares traded during the day was 11123 in over 735 trades.

The stock hit an intraday high of Rs. 296 and intraday low of 280. The net turnover during the day was Rs. 3228308.

Source : Equity Bulls

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