Rungta Irrigation Ltd Board approves Right Issue of Equity Shares

The Board of Directors of Rungta Irrigation Ltd in their meeting held today i.e. May 23, 2022, has considered and approved the proposal to raise funds subject to receipt of necessary approvals, as applicable, by way of issue of equity shares of the company to its eligible shareholders on a right basis ('Rights issue')i.e every applicant shareholder against their one Equity Share will get one point two five Equity Shares of the Company .i.e. (1:1:25) in accordance with applicable provisions of the Companies Act, 2013, as amended, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws. The Quantum of the right issue shall be approximately upto Rs. 12,17,00,000 and price of each share issued shall be Rs. 11/- (Rupees Eleven) including premium of Re. 1 (Rupee One) per share.

Source : Equity Bulls

Keywords

RungtaIrrigation RightsIssue FundRaising