PTC Industries Ltd board approves rights issue

The Board of Directors of PTC Industries Ltd at its meeting held on August 13, 2021, has approved the issuance of equity shares of Rs. 10/- each of the Company on rights basis to eligible equity shareholders of the Company as on the record date (to be notified later). Further the Board authorised 'Listing Committee' to decide detailed terms and conditions of the Issue, including but not limiting to the deciding the payment modalities / schedule thereof, issue price, rights entitlement ratio, record date, timing, other terms and conditions and all other related matters etc. The promoter and promoter group of the Company have confirmed they will subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to all the unsubscribed shares in the Issue.

The Board has approved the increase in the authorised share capital from Rs. 11,00,00,000/- divided in to 89,75,000 equity shares of Rs. 10/- each and 20,25,000 Redeemable cumulative preferences Shares of Rs. 10/- each to Rs. 20,00,00,000 divided in to 2,00,00,000 equity shares. Existing unissued 20,25,000 Redeemable cumulative preferences Shares of Rs. 10/- each shall also be converted in to 20,25,000 Equity Shares of Rs. 10/- each.

Shares of PTC Industries Ltd. was last trading in BSE at Rs. 2550 as compared to the previous close of Rs. 2498.1. The total number of shares traded during the day was 1105 in over 46 trades.

The stock hit an intraday high of Rs. 2599 and intraday low of 2450. The net turnover during the day was Rs. 2823093.

Source : Equity Bulls

Keywords