Asian Tea and Exports Limited board approves rights issue

The Rights issue committee of the Board of Directors of Asian Tea and Exports Limited, have approved the issue of 1,00,00,000 Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 15/- per Equity Share (including premium of Rs. 5/- per Equity Share) aggregating to Rs. 15 Crore to all the existing equity shareholders of the Company on a rights basis ("Rights Issue").

The ratio for the rights issue is fixed as 1:1 (1 Equity Share for every 1 fully paid-up Equity Share held by the Eligible Equity Shareholders ofthe Company, as on the record date).

November 9, 2021 has been fixed as the record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights lssue ("Eligible Equity Shareholders").

The rights issue oepns on November 18, 2021 and closes on December 2, 2021.

Shares of ASIAN TEA & EXPORTS LTD. was last trading in BSE at Rs. 25.65 as compared to the previous close of Rs. 25.70. The total number of shares traded during the day was 104987 in over 343 trades.

The stock hit an intraday high of Rs. 26.85 and intraday low of 24.90. The net turnover during the day was Rs. 2704890.00.

Source : Equity Bulls

Keywords

ASIANTEAandEXPORTSLTD INE822B01017 RightsIssue FundRaising