Inditrade Capital Ltd approves 5:13 rights issue

The Board of Directors of Inditrade Capital Limited ('the Company') at its meeting held today, i.e., 3rd November, 2022, has approved the issuance of equity shares of the Company having face value of Rs. 10/- each, on a Rights basis to eligible equity shareholders of the Company as on the Record Date (to be determined and notified later) aggregating to approximately Rs. 40.42 Crores (the "Rights Issue").

Rights Entitlement Ratio: 5 equity shares for every 13 equity shares held by eligible shareholders as on the Record Date.

Rights Issue Price: Rs. 45/- (Rupees Forty-Five only) per equity share [including a premium of Rs. 35/- (Rupees Thirty-Five only) per equity share].

The board also constituted a 'Rights Issue Committee' of the Board of Directors and delegated to/authorized the Rights Issue Committee to decide the other terms and conditions of the Rights Issue including the Record Date and do all such acts, deeds, matters and things as it may at its absolute discretion, deem necessary, expedient, usual or proper, in connection and/or incidental to the Rights Issue.

Shares of Inditrade Capital Limited was last trading in BSE at Rs. 40.15 as compared to the previous close of Rs. 39.50. The total number of shares traded during the day was 11506 in over 59 trades.

The stock hit an intraday high of Rs. 41.25 and intraday low of 38.15. The net turnover during the day was Rs. 458946.00.

Source : Equity Bulls

Keywords

InditradeCapital INE347H01012 RightsIssue FundRaising 5For13