Rainbow Foundations Limited allots 4,41,04,800 shares

The Rights Issue Committee of the Board of Directors of Rainbow Foundations Limited at its Meeting held on Wednesday, April 27, 2022 had considered and approved the allotment of 4,41,04,800 (Four Crores Forty One Lakhs Four Thousand Eight Hundred) Equity Shares having face value of Rs. 10/- (Rupees Ten) on a rights basis to the existing equity shareholders of the Company at a price of Rs. 11/- (Rupees Eleven only) per Equity Share in the ratio of 8:1 i.e. 8 (Eight) Equity Shares for every 1 (One) Equity Share held as on the record date i.e. Friday, March 11, 2022.

The said allotment is pursuant to the LoF and the Basis of Allotment as approved by BSE Limited, the Designated Stock Exchange for the issue.

Consequent to the said allotment, the paid-up Equity Share Capital of the Company shall be 4,96,17,900 Equity shares of Rs. 10/- each (fully paid up) aggregating to Rs. 49,61,79,000.

Shares of RAINBOW FOUNDATIONS LTD. was last trading in BSE at Rs. 12.10 as compared to the previous close of Rs. 12.07. The total number of shares traded during the day was 8884 in over 52 trades.

The stock hit an intraday high of Rs. 12.66 and intraday low of 11.06. The net turnover during the day was Rs. 106695.00.

Source : Equity Bulls

Keywords

RAINBOWFOUNDATIONS INE230F01014 SharesAllotment RightsIssue