Panafic Industrials Ltd board approves rights issue

The Board of directors of Panafic Industrials Ltd has considered and approved the proposal for raising of funds by issuance of equity share through modes of rights issue to the eligible equity shareholders of the Company (to be determined and informed subsequently).

The Board has considered and approved the constitution of the right issue committee for giving effect to the Rights Issue, and to fix the detailed terms in relation to the Rights Issue.

The information related to the proposed right issue, including but not limiting to the issue size, issue price, rights entitlement ratio, record date, timing and other material matters shall be determined and announced in due course.

Shares of Panafic Industrials Ltd was last trading in BSE at Rs. 2.42 as compared to the previous close of Rs. 2.33. The total number of shares traded during the day was 475314 in over 600 trades.

The stock hit an intraday high of Rs. 2.44 and intraday low of 2.22. The net turnover during the day was Rs. 1095213.00.

Source : Equity Bulls

Keywords

PanaficIndustrials INE655P01029 FundRaising RightsIssue