Raj Rayon Industries Ltd approves allotment of CCPS

The Board of Directors of Raj Rayon Industries Limited, at its meeting held today Friday, 23rd December, 2022 has considered and approved the allotment of 48,00,000 Equity Shares of the face value of Re. 1/- each upon the conversion of 1,00,000 Compulsory Convertible Preference Shares Class-A (CCPS Class-A) of the face value of Rs. 100/- each to the Financial Creditors as per the Resolution Plan (RP) of the Company approved by Hon'ble NCLT vide its order dated 5th October, 2021, under Section 31 of Insolvency and Bankruptcy Code, 2016)

Source : Equity Bulls

Keywords

RajRayonIndustries SharesAllotment CCPS Conversion