RPP Infra Projects Ltd board approves rights issue to raise Rs. 48 crores

The Board of Directors of RPP Infra Projects Ltd at its meeting held on Wednesday, 17th February 2021, approved the offer and issuance of 1,60,00,000 fully paid-up equity shares of the Company (Rights Equity Shares) for an amount not exceeding Rs. 48.00 crores, by way of a rights issue (Rights Issue).

The ratio of rights issue is fixed as 3:5 (3 Rights Equity Shares for every 5 fully paid-up Equity Shares held by the eligible equity shareholders of our Company on the Record Date) at a price of Rs. 30 per Rights Equity Share (including a premium of Rs. 20 per Rights Equity Share)

Terms of payment:

On Application - Rs. 18 per share (Face Value - Rs. 6 and Premium - Rs. 12)

One or more subsequent calls - Rs. 12 per share (Face Value - Rs. 4 and Premium - Rs. 8)

The record date for the purpose of determining the name of equity shareholders of the Company eligible to apply for the Rights Equity Shares in the Rights issue of the Company will be announced in due course along with International Securities Identification Number (ISIN) of Rights Entitlements.

Shares of RPP INFRA PROJECTS LIMITED was last trading in BSE at Rs. 81.4 as compared to the previous close of Rs. 79.7. The total number of shares traded during the day was 19860 in over 616 trades.

The stock hit an intraday high of Rs. 82.4 and intraday low of 81. The net turnover during the day was Rs. 1621052.

Source : Equity Bulls

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