Som Distilleries and Breweries Ltd approves rights issue

The Board of directors of Som Distilleries and Breweries Ltd have considered and approved a proposal of fund raising through a Rights Issue. Further, the Board approved the offer and issuance of fully paid-up equity shares of ₹5/- each of the Company aggregating upto ₹49.00 Crores at such ratio, price & terms and conditions as may be determined by the Board of Directors in this regard to the existing equity shareholders of the Company as on the record date (to be fixed for the purpose) and on such other terms and conditions as may be mentioned in the draft Letter of Offer to be issued by the Company in respect of the rights Issue subject to necessary approvals and consent as may be necessary / required for compliance of applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and the Companies Act, 2013 as amended.

Further, the Board has authorised the Committee of board to proceed with the Rights Issue forthwith, and decide the other terms and conditions of the Rights Issue, including setting the record date, determining the price, appointment of intermediaries and various other related matters.

Shares of Som Distilleries & Breweries Limited was last trading in BSE at Rs. 141.25 as compared to the previous close of Rs. 141.40. The total number of shares traded during the day was 65178 in over 1390 trades.

The stock hit an intraday high of Rs. 142.05 and intraday low of 138.95. The net turnover during the day was Rs. 9172567.00.

Source : Equity Bulls

Keywords

SomDistilleriesandBreweries INE480C01020 SDBL FundRaising RightsIssue