IRIS Business Services Ltd Board approves Right Issue

The board of directors of IRIS Business Services Ltd has considered and approved raising of funds by way of offer and issue of equity shares to the eligible shareholders of the company on a rights basis (Rights Issue) upto INR 32 crore fully paid up / partly paid up.

The board has constituted a rights issue committee of directors for the above purpose and has authorised the committee to determine the terms of the rights issue including the quantum of issue, rights entitlement ratio, issue price, issue size, book closure or record date, entitlement timing of the issue, etc., in consultation with the lead manager to the rights issue and to decide all other matters relating to the rights issue.

Shares of IRIS Business Services Ltd was last trading in BSE at Rs. 130.00 as compared to the previous close of Rs. 123.50. The total number of shares traded during the day was 2242 in over 75 trades.

The stock hit an intraday high of Rs. 133.55 and intraday low of 128.00. The net turnover during the day was Rs. 292559.00.

Source : Equity Bulls

Keywords

IRISBusinessServices INE864K01010 RightsIssue FundRaising