Emerald Leasing Finance and Investment Company Limited board approves 42:19 rights issue

The Board of Directors of Emerald Leasing Finance and Investment Company Limited ("the Company"), in its Meeting held on January 21, 2021, has considered and approved the details pertaining to the proposed rights issue of equity shares of face value of %10/- each.

Rights Entitlements Ratio - 42 equity shares for every 19 Equity shares (42:19) held by the shareholders as on the Record Date ("Eligible Shareholders")

Issue price per Equity Share - Rights Issue price of Rs. 10/- (at par) for every Rights Equity Share of face value of Rs. 10/- each.

Size of the Issue - 2,00,00,000 fully paid-up equity shares of face value of Rs. 10/- each for cash at a price of Rs. 10/-(at par) per Equity Share for an amount aggregating upto Rs. 20,00,00,000/- on a rights basis to the Eligible Equity Shareholders of the Company.

Terms of payment - The full amount of Issue Price of Rs. 10/- is payable on application.

Record Date - January 28, 2021 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 Emerald Leasing Finance & Investment Company Ltd was last trading in BSE at Rs.13.2 as compared to the previous close of Rs. 13.2. The total number of shares traded during the day was 13299 in over 11 trades.

The stock hit an intraday high of Rs. 13.5 and intraday low of 13.2. The net turnover during the day was Rs. 176846.

Source : Equity Bulls

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