Maharashtra Corporation Ltd board approves rights issue to raise funds

The Board of Directors of Maharashtra Corporation Ltd at their Meeting held today on 13th December, 2021, has considered and approved the purchase of property situated at Navarangpura, Ahmedabad and to develop a shopping mall.

The Board of the Director have considered raising fund through Right Issue of Equity Shares to the existing Shareholders of the Company upto Rs. 49.90 Crores for the purpose of Above Project. The project will be met through the proposed Right Issue and Internal Accruals of the Company, subject to the approval of shareholders.

Shares of MAHARASHTRA CORPORATION LTD. was last trading in BSE at Rs. 0.72 as compared to the previous close of Rs. 0.70. The total number of shares traded during the day was 5159001 in over 2034 trades.

The stock hit an intraday high of Rs. 0.73 and intraday low of 0.67. The net turnover during the day was Rs. 3730584.00.

Source : Equity Bulls

Keywords

MAHARASHTRACORPORATION INE272E01027 RightsIssue Acquisition Property ShoppingMall