SEPC Limited board approves rights issue

The board of directors of SEPC Limited at their meeting held on Tuesday, 27th December, 2022 have, discussed and approved the fund raising by way of an issuance of equity shares of face value of 10/- each of the Company to its eligible equity shareholders on a rights basis ("Rights issue") for a value not exceeding Rs.50 Crores, subject to receipt of necessary approvals from regulatory authorities.

The board also approved constitution of a Special Committee of Board of Directors, in the name and style of 'Rights Issue Committee' to decide on the matters relating to right issue which includes, inter-alia to approval of the draft letter of offer, letter of offer along with any amendments, supplements, notices or corrigenda thereto, approval of pricing and terms of the equity shares, right entitlement ratio, date of on-market renunciation, the bid-issue opening and closing date, discount (if any) and all other related matters, including the determination of the minimum subscription for the issue, appointment of Registrar and share transfer agents, legal counsel, advisors and other intermediaries.in accordance with applicable laws.

Shares of SEPC Limited was last trading in BSE at Rs. 10.38 as compared to the previous close of Rs. 10.15. The total number of shares traded during the day was 313126 in over 924 trades.

The stock hit an intraday high of Rs. 10.94 and intraday low of 10.10. The net turnover during the day was Rs. 3305672.00.

Source : Equity Bulls

Keywords

SEPC INE964H01014 FundRaising RightsIssue