RPP Infra Projects Limited board approves rights issue

A meeting of the Board of Directors (Board) of RPP Infra Projects Limited was held today, February 17, 2021, to consider and approve a proposal for raising of funds for the Company through the issue of equity shares to the shareholders of the Company, on rights basis.

Accordingly, the Board approved, the offer and issuance of fully paid-up equity shares of - the Company (Equity Shares) for an amount not exceeding %48,00,00,000 (Rupees Forty Eight Cores Only) by way of a rights issue to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to such approvals, as may be required under the applicable laws (Rights Issue), and other matters incidental and ancillary thereto.

For the purposes of giving effect to the Rights Issue, the detailed terms in relation to the Rights Issue, including but not limiting to the issue price, rights entitlement ratio, record date, timing, terms of payment and other ancillary activities will be determined in due course.

Shares of RPP INFRA PROJECTS LTD. was last trading in BSE at Rs.67.15 as compared to the previous close of Rs. 70.7. The total number of shares traded during the day was 3294 in over 49 trades.

The stock hit an intraday high of Rs. 71.3 and intraday low of 67.15. The net turnover during the day was Rs. 231601.

Source : Equity Bulls

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