Megasoft Limited approves 2:3 rights issue at Rs. 10 per share

A meeting of the Board of Directors of Megasoft Limited held on February 12, 2021 had approving fund raising by way of a rights issue of equity shares of the Company ("Rights Equity Shares") to eligible equity shareholders of the Company as on the record date (to be announced later).

The Rights Issue Committee of the company in its meeting held on Monday, March 01, 2021, has approved the issue on the following terms:

- Rights entitlement ratio: 2 Rights Equity Shares for every 3 shares held by eligible Equity Shareholders of the Company as on the record date (to be announced later).

- Number of Rights Equity Shares to be issued and the size of the issue: 2,95,02,748 Equity Shares for an amount aggregating up to Rs. 29,50,27,480 (assuming full subscription). These numbers and amount are post ignoring the fractional right entitlements as per SEBI Rights Issue Circular.

- Rights Issue Price: Rs. 10 per Rights Equity Share.

Shares of MEGASOFT LTD. was last trading in BSE at Rs.10.55 as compared to the previous close of Rs. 10.96. The total number of shares traded during the day was 15441 in over 87 trades.

The stock hit an intraday high of Rs. 10.91 and intraday low of 10.5. The net turnover during the day was Rs. 164605.

Source : Equity Bulls

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