Patel Engineering Ltd to consider fund raising through rights issue

A meeting of the Board of Directors of Patel Engineering Ltd is scheduled on 16/12/2022, to consider and approve matters related to raising of funds through issue of equity shares of the Company on rights basis to the existing equity shareholders of the Company in accordance with provisions of Companies Act, 2013 and Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other matters related / incidental thereto including the delegation of powers to the constituted 'Allotment Committee', the Committee of Board of Directors, to implement the proposal of Rights Issue.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 21.20 as compared to the previous close of Rs. 21.15. The total number of shares traded during the day was 345710 in over 886 trades.

The stock hit an intraday high of Rs. 21.55 and intraday low of 20.85. The net turnover during the day was Rs. 7361077.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 FundRaising RightsIssue