Rainbow Foundations Ltd files draft offer letter for rights issue

The Board of Directors of Rainbow Foundations Limited at their meeting held on today i.e., December 18, 2021 has approved draft letter of offer and same has been filed with BSE Limited for its in-principle approval.

The company had earlier announced Rights Issue of Equity Shares of the Company of face value of Rs. 10/- (Rupees Ten each) each for an aggregate amount of up to Rs.48,51,52,800 (Rupees Forty Eight Crores Fifty One Lakh Fifty Two Thousand Eight Hundred Only).

Shares of RAINBOW FOUNDATIONS LTD. was last trading in BSE at Rs. 23.88 as compared to the previous close of Rs. 22.13. The total number of shares traded during the day was 9097 in over 81 trades.

The stock hit an intraday high of Rs. 24.34 and intraday low of 20.48. The net turnover during the day was Rs. 216499.00.

Source : Equity Bulls

Keywords

RAINBOWFOUNDATIONS INE230F01014 Realty RealEstate FundRaising RightsIssue DraftOfferLetter