IND Renewable Energy Limited board approves rights issue

The Board of Directors of IND Renewable Energy Limited at its meeting held on August 10, 2021 have considered and approved the raising of funds by issuance and allotment of equity shares for up to an aggregate amount of up to Rs. 15.5 crores (Rupees Fifteen Crores & Fifty Lakh), by way of a rights issue to eligible equity shareholders of the Company as on the record date (to be notified later), on such terms (to be decided by the Board or a duly constituted committee of the Board) as are in accordance with applicable law, including Companies Act, 2013 and the rules made thereunder and the SEBI ICDR Regulations, 2018, each as amended.

The Board constituted 'Rights Issue Committee' to decide the other terms and conditions of the Issue including but not limited to record date, issue size, nature of equity shares, finalizing date of opening / closing of issue, approval of draft and final Letter of Offer and all other matters incidental to the issue.

Shares of IND Renewable Energy Ltd was last trading in BSE at Rs. 13.2 as compared to the previous close of Rs. 13.25. The total number of shares traded during the day was 3070 in over 28 trades.

The stock hit an intraday high of Rs. 13.25 and intraday low of 12.59. The net turnover during the day was Rs. 40157.

Source : Equity Bulls

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