Aurum PropTech Ltd board approves 3:2 rights issue at Rs. 80 per share

The Board of Directors of Aurum PropTech Limited ("the Company") at its meeting held today i.e. December 17, 2021 has, approved the terms and conditions of the rights issue.

The Board, at its meeting held today, the issuance of equity shares of Rs. 5/- each of the Company on rights basis to eligible equity shareholders of the Company as on the record date (to be notified later), of an issue size of Rs. 343.56 crore (the "Issue").

The Board also approved the following terms of the Issue:

Rights Issue Price: Rs. 80/- per fully paid-up equity share (including a premium of Rs. 75/- per equity share).

Terms of payment of Issue Price: 25% on application and balance in one or more calls as may be decided by the Board / Committee of the Board from time to time.

Rights Entitlement Ratio: 3 equity shares for every 2 equity shares held by eligible shareholders as on the record date.

Further the Board constituted 'Rights Issue Committee' to decide the other terms and conditions of the Issue including the record date.

The promoter and promoter group of the Company have confirmed they will subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to all the unsubscribed shares in the Issue.

The company had earlier announced increase in authorized capital of the Company from Rs. 25,00,00,000/- consisting of 5,00,00,000 Equity Shares of Rs. 5/- each to Rs. 50,00,00,000/- consisting of 10,00,00,000 Equity Shares of Rs. 5/- each, the Board of Directors of the Company have further revised the same and (i) approved the increase to Rs. 100,00,00,000/- consisting of 20,00,00,000 Equity Shares of Rs. 5/- each and (ii) alteration of Clause V of Memorandum of Association of the Company, subject to the approval of shareholders.

Shares of Aurum PropTech Limited was last trading in BSE at Rs. 145.35 as compared to the previous close of Rs. 153.00. The total number of shares traded during the day was 30365 in over 721 trades.

The stock hit an intraday high of Rs. 153.00 and intraday low of 145.35. The net turnover during the day was Rs. 4438981.00.

Source : Equity Bulls

Keywords

AurumPropTech INE898S01029 RealEstate RightsIssue FundRaising