B N Rathi Securities Limited board approves rights issue

The Board of Directors of B.N. Rathi Securities Limited, at their meeting held today i.e. Friday, September 24, 2021 at 05.00 p.m, considered and approved the increase in Authorised Capital of the Company. The existing Authorised Share Capital be increased from Rs. 6,00,00,000/- (Rupees Six Crore only) divided into 60,00,000 (Sixty Lakhs ) Equity Shares of Rs.10/- (Rupees Ten only) each, to Rs. 12,00,00,000/- (Rupees Twelve Crore only) divided into 1,20,00,000 (One Crore Twenty Lakhs) Equity Shares of Rs. 10/- (Rupees Ten only) each.

The board approved alteration of Clause V in the Memorandum of Association of the company to reflect the increase in Authorised Capital of the Company Rs. 6,00,00,000/- (Rupees Six Crore only) to Rs. 12,00,00,000/- (Rupees Twelve Crore only).

The board also approved issue of upto 33,60,000 Equity Shares, to the eligible shareholders of the Company on Rights basis as on the record date (to be notified later) as may be permitted under applicable laws, subject to regulatory / statutory approvals as may be required.

Issue Size - Rs.7,39,20,000/-
Issue Price - Rs. 22/-
Total no. of Rights Equity shares to be issue: 33,60,000
Rights Entitlement Ratio - 2:3

Shares of B.N. Rathi Securities Ltd. was last trading in BSE at Rs. 38 as compared to the previous close of Rs. 37.9. The total number of shares traded during the day was 9757 in over 41 trades.

The stock hit an intraday high of Rs. 38.75 and intraday low of 36.7. The net turnover during the day was Rs. 368871.

Source : Equity Bulls

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