Vikas Ecotech Limited board approves 13:10 rights issue at Rs. 1.35 per share

The board of directors of Vikas Ecotech Limited had earlier approved the issue of fully paid-up equity shares of the Company of face value of Re. 1/- each ("Equity Shares") was approved by way of a rights issue for up to an aggregate amount of up to Rs. 50 Crore (Rupees Fifty Crore) ("Rights Issue"). The Board at their meeting held today i.e. on June 4, 2021 at its registered office, have considered and approved the terms and conditions of the issue.

Rights Issue Ratio - 13 Equity Shares for every 10 Equity Shares held by the Eligible Equity Shareholders in the Company as on the record date with the right to renounce.

Total number of securities proposed to be issued - Up to 36,38,69,577 fully paid-up Equity Shares of face value of Re. 1/- each for an amount aggregating upto 4912.24 Lakhs

Issue Price - Rs. 1.35/- per Rights Equity Share (including premium of Re. 0.35/- per Rights Equity Share

Record Date - June 10, 2021 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders")

Right Issue Period

Rights Issue Opening Date: June 15, 2021

Last date for On Market Renunciation of Rights Entitlement: June 23, 2021

Rights Issue Closing Date: June 29, 2021

Shares of Vikas EcoTech Ltd was last trading in BSE at Rs.2.48 as compared to the previous close of Rs. 2.37. The total number of shares traded during the day was 1269730 in over 724 trades.

The stock hit an intraday high of Rs. 2.48 and intraday low of 2.35. The net turnover during the day was Rs. 3091472.

Source : Equity Bulls

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