Suven Life Sciences Limited approves 1:2 rights issue

The Members of the Rights Issue Committee of the Board of Directors of Suven Life Sciences Limited, at their meeting held on October 12, 2022, considered and approved the terms and conditions of the Rights issue.

The company will issue fully paid-up equity shares of face value of Rs. 1 each ("Equity Shares") in the ratio of 1:2 [1 (One) Rights Equity Share for every 2 (Two) fully paid-up Equity Shares held by the Eligible Equity Shareholders of the Company, as on the record date]. If the shareholding of the Eligible Equity Shareholder is 2 (Two) or more, such shareholders will be entitled to at least 1 (One) Equity Share.

The total number of Equity Shares and Rights Issue size will be 7,26,91,239 fully paid-up Equity Shares each for amount aggregating to ? 399.80/- Crores (Three Hundred and Ninety Nine crore Eighty Lakh).

The Issue Price is ? 55/- per fully paid-up Equity Share [including a premium of ? 54/- per Equity Share]

October 18, 2022 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders").

Source : Equity Bulls

Keywords

SuvenLifeSciences RightsIssue 1For2 RecordDate FundRaising