Sparc Electrex Ltd board approves rights issue to raise Rs. 30 crore

The meeting of Board of Directors of M/s. Sparc Electrex Limited was held today i.e., on 23rd September, 2022 on Friday at the Registered office of the Company at 1202, 12th Floor, Esperanza Building, Next to Bank of Baroda, 198, Linking Road, Bandra (West), Mumbai -400050 at 11.30 a.m. and concluded at 12.10 p.m.

The Board reconsidered and approved the proposal for issuance of equity shares of face value of Rs.10.00/- (Indian Rupees Ten Only) for an amount not exceeding Rs.30,00,00,000/- (Indian Rupees Thirty Crore Only) through a Rights Issue, to the eligible equity shareholders of the Company as on Record date (to be notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, along with relevant circulars issued by the Securities and Exchange Board of India, Companies Act, 2013 (hereinafter referred to as 'Rights Issue')

Source : Equity Bulls

Keywords

SparcElectrex RightsIssue FundRaising