Alankit Ltd board approves rights issue proposal

The Board of Directors of Alankit Ltd, at its meeting held today, i.e., December 08, 2021 has, considered and approved the fund raising by way of the Rights Issue of Equity shares of face value of Re. 1/- each fully paid-up, of the Company, to eligible equity shareholders of the Company as on the record date (to be notified later), for a maximum amount not exceeding Rs. 50 Crore, subject to applicable laws.

The board constituted 'Rights Issue Committee' to finalize the issue price and no. of Rights shares to be issued and other terms and conditions of the Issue, including but not limiting to deciding the rights entitlement ratio, record date, timing, terms and schedule of payment, from time to time etc.

The board approved the appointment of M/s Corporate Professionals Capital (P) Ltd, SEBI Registered Category I Merchant Bankers to act as a "Lead Manager to the Issue".

The board also approved the appointment of M/s. Alankit Assignments Limited as the "Registrar to the Issue".

Shares of Alankit Limited was last trading in BSE at Rs. 15.90 as compared to the previous close of Rs. 15.85. The total number of shares traded during the day was 144607 in over 493 trades.

The stock hit an intraday high of Rs. 16.10 and intraday low of 15.80. The net turnover during the day was Rs. 2302107.00.

Source : Equity Bulls

Keywords

AlankitLimited INE914E01040 RightsIssue FundRaising