Sharat Industries Ltd board approves less than Rs. 50 crores rights issue

The Board of Directors of Sharat Industries Ltd at its meeting held today i.e., 18th January, 2022, has considered and approved the proposal to the issue the shares to the eligible shareholders of the Company on the Rights issue basis.

The issue size shall be less than Rs. 50 Crores. The draft letter of offer was placed before the Board and the same was approved by the Board for filing the same with the BSE Limited.

Further the Board also approved for filing of forms, documents and returns with the BSE seeking the in-principal approval with the BSE for the proposed issue.

Shares of SHARAT INDUSTRIES LTD. was last trading in BSE at Rs. 68.50 as compared to the previous close of Rs. 69.15. The total number of shares traded during the day was 23422 in over 87 trades.

The stock hit an intraday high of Rs. 72.50 and intraday low of 68.05. The net turnover during the day was Rs. 1639578.00.

Source : Equity Bulls

Keywords

SHARATINDUSTRIES INE220Z01013 RightsIssue FundRaising