Gennex Laboratories board approves 1:2 rights issue

The board of directors of Gennex Laboratories Limited has approved the issue of 6,32,51,500 Rights Equity Shares of face value of Rs. 1/- each at an issue price of Rs. 6/- per Rights Equity Share (including premium of Rs. 5/- per Rights Equity Share) for an amount aggregating up to Rs. 37.951 Crores to all the existing equity shareholders of the Company on a rights basis ("Rights Issue"), subject to requisite approvals from the statutory, regulatory and other authorities, as applicable.

The shares will be issued in the proportion of 1 (One) Rights Equity Share of Rs. 1/- each for Every 2 (Two) Fully Paid-Up Equity Shares of Rs. 1/- each held by the Existing Equity Shareholders as on the Record Date ("Eligible Equity shareholders") with the Right to renounce.

The board has fixed the record date i.e. Friday, July 22, 2022 for the purpose of determining names of shareholders of the Company eligible to apply for the partly paid-up Rights Equity Shares in the Rights Issue of the Company.

Payment Terms:

On Application - Rs. 1.50 (Face Value - Rs. 0.25 and Premium - Rs. 1.25)
On First and Final Call - Rs. 4.50 (Face Value - Rs. 0.75 and Premium - Rs. 3.75)

Schedule of the Rights Issue:

Issue Opening Day & Date - Friday, August 05, 2022
Last date for on Market Renunciation of the Rights Entitlements* - Friday, August 12, 2022
Issue Closing Day & Date# - Friday, August 19, 2022

Shares of GENNEX LABORATORIES LTD. was last trading in BSE at Rs. 6.98 as compared to the previous close of Rs. 6.92. The total number of shares traded during the day was 313794 in over 905 trades.

The stock hit an intraday high of Rs. 7.25 and intraday low of 6.84. The net turnover during the day was Rs. 2225435.00.

Source : Equity Bulls

Keywords

GENNEXLABORATORIES INE509C01026 RightsIssue FundRaising 1For2 RecordDate IssueSchedule