Ridhi Synthetics Ltd board approves 4:1 rights issue at Rs. 10 per share

The Board of Directors of Ridhi Synthetics Ltd at its meeting held today i.e. 26% July, 2021 at the registered office of the Company at 11-B, Mittal Tower, Free Press Journal Marg, Nariman Point, Mumbai - 400021 has, considered and approved the issue of Fully paid up Equity Shares of face value of Rs.10 each ("Equity Shares") of the Company, by way of a rights issue to the eligible shareholders of the Company for an amount not exceeding Rs, 1,96,00,000 (the "Issue") in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, read with the relevant circulars issued by the SEBI, in this regard, from time to time (hereinafter referred to as "SEBI ICDR Regulations" and the issue "Rights Issue").

The Rights Issue Price is fixed as Rs. 10 per Rights Equity Share and the rights entitlement ratio is 4 (four) Rights Equity Shares for every 1 (one) Equity Share held by eligible shareholders as on the Record Date.

For the purposes of giving effect to the Rights Issue, the Board of Directors has constituted the Right Issue Committee to, decide the other terms and conditions of the Rights Issue, including the, record date, timing of the Rights Issue and other related matters.

Source : Equity Bulls

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