Texel Industries Ltd board approves rights issue to raise Rs. 20 crores

The Board of Directors of Texel Industries Ltd, in their meeting held today, have approved the raising of funds through issuance and allotment of equity shares of face value of Rs. 10/- each for an aggregate amount of up to Rs. 20 Crores (Rupees Twenty Crores only), on a rights basis to the eligible equity shareholders of the Company as on a record date on such terms and conditions as may be decided by the Board of Directors or Committee thereof subject to the receipt of regulatory / statutory approvals.

Further, the Board of Directors have delegated powers to the Finance and Investment Committee of Directors in respect of Rights Issue.

Shares of TEXEL INDUSTRIES LTD. was last trading in BSE at Rs.41.2 as compared to the previous close of Rs. 40.4. The total number of shares traded during the day was 85 in over 2 trades.

The stock hit an intraday high of Rs. 41.2 and intraday low of 41.2. The net turnover during the day was Rs. 3502.

Source : Equity Bulls

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