The Board of Directors of City Pulse Multiplex Ltd at its meeting held today has, considered and approved, subject to receipt of relevant approvals from regulatory authorities, as may be required, issue of Equity Shares by way of a Rights Issue to the existing shareholders of the Company on a record date for an amount not exceeding Rs. 504 Lakhs. The objective of the aforementioned Issue is to meet the company's financing needs for capital expenditure and growth plans, detailed object, will be finalized in consultation with the Merchant bankers.
The Board also approved the appointment of Kunvarji Finstock Private Limited as the Merchant Bankers to the Issue and also simultaneously approved formation of a Committee of Directors (consisting 1 Executive and 1 Independent Director) for the said Rights Issue to decide on the terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, timing of the Rights Issue and other related matters.
The Board has also resolved to fix January 22, 2022 as the 'Record Date' for the purpose of determining list of shareholders, eligible for receiving Rights entitlement at a later date.
Shares of City Pulse Multiplex Ltd was last trading in BSE at Rs. 56.00 as compared to the previous close of Rs. 58.00. The total number of shares traded during the day was 48000 in over 11 trades.
The stock hit an intraday high of Rs. 59.45 and intraday low of 56.00. The net turnover during the day was Rs. 2817800.00.