Praveg Communications India Ltd approves preferential issue

The Board of Directors ('Board') of Praveg Communications (India) Limited, at its meeting held today i.e. October 28, 2022, approved the issuance of up to 27,10,648 (Twenty Seven Lakh Ten Thousand Six Hundred Forty Eight) equity shares of face value of Rs. 10/- each of the Company to the proposed allottees, on a preferential basis ("Preferential Issue") in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations"), as amended and other applicable laws, at a price of Rs. 225/- (Rupees Two Hundred Twenty Five Only) per equity shares aggregating to Rs. 60,98,95,800/- or such other higher price as may be determined as on the relevant date in accordance with the SEBI (ICDR) Regulations, 2018, subject to the approval of Members of the Company and such regulatory / statutory authorities as may be applicable.

Shares of Praveg Communications (India) Ltd was last trading in BSE at Rs. 234.25 as compared to the previous close of Rs. 235.75. The total number of shares traded during the day was 11545 in over 210 trades.

The stock hit an intraday high of Rs. 239.90 and intraday low of 232.10. The net turnover during the day was Rs. 2723850.00.

Source : Equity Bulls

Keywords

PravegCommunicationsIndia INE722B01019 PreferentialIssue FundRaising