Rajapalayam Mills Ltd approves rights issue to raise Rs. 60 crores

The Board of directors of Rajapalayam Mills Ltd have considered and approved the fund raising by the Company for an amount aggregating up to Rs. 60 Crores by issue of equity shares of face value of Rs. 10/- each ("Equity Shares") on a rights basis to all existing equity shareholders of the Company as on a record date (to be notified later) and on such terms and conditions as may be decided by the Board or Rights Issue Committee thereof ("Rights Issue") subject to requisite approvals from the statutory, regulatory and other authorities, as applicable.

Shares of RAJAPALAYAM MILLS LTD. was last trading in BSE at Rs. 1132.35 as compared to the previous close of Rs. 1216.50. The total number of shares traded during the day was 19163 in over 1068 trades.

The stock hit an intraday high of Rs. 1248.00 and intraday low of 1076.00. The net turnover during the day was Rs. 22455355.00.

Source : Equity Bulls

Keywords

RAJAPALAYAMMILLS INE296E01026 RightsIssue FundRaising