The Sandur Manganese & Iron Ores Ltd approves 2:1 rights issue at Rs. 10 per share

The Board of Directors of The Sandur Manganese & Iron Ores Limited at its meeting held on Sunday, 10 April 2022, had considered and approved the terms and conditions of the rights issue.

Total number of securities proposed to be issued - 1,80,03,882 equity shares of face value of INR 10 each

Right Issue Size - INR 18,00,38,820 (Indian rupees eighteen crore thirty-eight thousand eight hundred and twenty only)

Right Issue Price - INR 10 (Indian rupees ten only) per Rights equity shares

Rights Entitlement Ratio - 2 new equity shares for every 1 equity share held by eligible shareholders as on the record date.

Outstanding equity shares prior to the Rights Issue - 90,01,941 equity shares of INR 10/- each

Outstanding equity shares post Rights Issue (assuming full subscription) - 2,70,05,823 equity shares of INR 10/- each

The record date will be announced in due course of time.

Shares of SANDUR MANGANESE & IRON ORES LTD. was last trading in BSE at Rs. 3769.00 as compared to the previous close of Rs. 3512.40. The total number of shares traded during the day was 29809 in over 2487 trades.

The stock hit an intraday high of Rs. 3800.00 and intraday low of 3535.25. The net turnover during the day was Rs. 109785307.00.

Source : Equity Bulls

Keywords

SANDURMANGANESEandIRONORES INE149K01016 Mining RightsIssue FundRaising