Maharashtra Corporation Ltd announces 11:3 rights issue

The Board of Directors ("Board of Directors") of Maharashtra Corporation Limited ("Company") at its meeting held today i.e. June 23, 2022 has fixed 08th July, 2022, Friday as the record date for the purpose of determining the Equity Shareholders who are entitled to receive the Rights Entitlement in the Rights Issue ("Record Date").

The Rights Entitlement of the eligible Equity Shareholders as on the Record Date, shall be credited prior to the issue opening date, in the respective demat account of the eligible Equity Shareholders. The ISIN for such Right Entitlement is INE272E20027.

Rights Issue Size: 49,62,22,210 Equity Shares of Face Value of Rs. 1.00/- each for an aggregate amount not exceeding 49,62,22,210 Only

Rights Issue Price: On Application - Rs. 0.25 and One or more subsequent call - Rs. 0.75

Rights Entitlement Ratio: 11 (Eleven) Rights Equity Share(s) for every 3 (Three) fully paidup Equity Share(s) held by the eligible shareholders as on the Record Date.

Rights Issue Schedule:

Issue opening Date - (Tuesday) July 19, 2022
Last Date on Market Renunciation of RE - (Wednesday) July 27, 2022
Issue closing date - (Tuesday) August 02, 2022

Shares of MAHARASHTRA CORPORATION LTD. was last trading in BSE at Rs. 1.04 as compared to the previous close of Rs. 1.00. The total number of shares traded during the day was 829499 in over 603 trades.

The stock hit an intraday high of Rs. 1.08 and intraday low of 0.98. The net turnover during the day was Rs. 851578.00.

Source : Equity Bulls

Keywords

MAHARASHTRACORPORATION INE272E01027 RightsIssue FundRaising RecordDate