Shree Ajit Pulp and Paper Ltd to raise Rs. 20 crores through rights issue

The Board of Directors of Shree Ajit Pulp and Paper Limited at its meeting held on 28th October, 2022 at the Registered office of the Company located at Survey No. 239, Near Morai Railway Crossing, Village Salvav, Via-Vapi, Vapi, 396191, Gujarat considered and approved the raising of funds through issuance and allotment of equity shares having face value of Rs. 10.00/- (Rupees Ten Only) ('Equity Shares') for an aggregate amount of up to Rs. 20,00,00,000/- (Rupees Twenty Crores Only) on right issue basis, on such terms and conditions as may be decided by the Board of Directors of our Company to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently) subject to the receipt of applicable regulatory, statutory approvals, in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, and the Companies Act, 2013 and the rules made thereunder, as amended from time to time, ('Rights Issue').

The board also approved constitution of "Right Issue Committee" to decide on the detailed terms and conditions of the Issue, the appointment of various intermediaries including but not limited to deciding the payment modalities/schedule thereof, record date, timings, other terms and conditions, and all other related matters, etc.

Shares of Shree Ajit Pulp And Paper Ltd was last trading in BSE at Rs. 311.00 as compared to the previous close of Rs. 309.65. The total number of shares traded during the day was 1681 in over 67 trades.

The stock hit an intraday high of Rs. 319.50 and intraday low of 295.00. The net turnover during the day was Rs. 516477.00.

Source : Equity Bulls

Keywords

ShreeAjitPulpAndPaper INE185C01017 FundRaising RightsIssue