Indowind Energy Ltd to raise upto Rs. 50 crores through rights issue

The Board of directors of Indowind Energy Limited at its meeting held on 7th January 2022, have decided to issue shares on the rights basis to existing shareholders for an amount not exceeding Rs. 50 crores only.

The Board has constituted a 3 member committee to decide the record date, rights entitlement in consultation with the lead manager(s) to be appointed by them.

The Board has decided to convene EGM of the Company to reclassify and increase the Authorised Share Capital for this purpose. The date, place, and the mode of convening the EGM will be decided by the Rights Issue Committee in consultation with Lead Manager(s) and Share Transfer Agents.

Shares of Indowind Energy Limited was last trading in BSE at Rs. 41.40 as compared to the previous close of Rs. 39.45. The total number of shares traded during the day was 245323 in over 679 trades.

The stock hit an intraday high of Rs. 41.40 and intraday low of 37.50. The net turnover during the day was Rs. 9391630.00.

Source : Equity Bulls

Keywords

IndowindEnergy INE227G01018 RightsIssue FundRaising