Mehai Technology Ltd approves revision of rights issue size

The Board of Directors ("Board") of Mehai Technology Limited ("Company"), in its meeting held today, viz. Wednesday, 19th April, 2023 has considered and approved the Revision of Rights Issue Size that was approved in Board Meeting dated 2nd March 2023: Fund raising by way of Rights Issue of an amount not exceeding Rs. 49,00,00,000/- (Rupees Forty Nine Crores Only) to the eligible equity shareholders of the Company as on Record date (to be notified subsequently) and on such terms and conditions as may be decided by the Board at a later date and disclosed to the BSE from time to time, in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, SEBI Listing Regulations, along with relevant circulars issued by the Securities and Exchange Board of India, Companies Act, 2013. ("Rights Issue").

The board also considered and approved the Revision of the amount of Increase in the Authorised Share capital of the Company- Increase in Authorised Share Capital from Rs. 25,00,00,000/- (Rupees Twenty-Five Crores Only) to Rs. 60,00,00,000/- (Rupees Sixty Crores Only) and consequent amendment in the Capital Clause of the Memorandum of Association of the Company. The said resolution is subject to approval by the members of the Company.

Shares of Mehai Technology Ltd was last trading in BSE at Rs. 20.40 as compared to the previous close of Rs. 20.51. The total number of shares traded during the day was 30157 in over 112 trades.

The stock hit an intraday high of Rs. 21.53 and intraday low of 19.80. The net turnover during the day was Rs. 626004.00.

Source : Equity Bulls

Keywords

MehaiTechnology INE062Y01012 FundRaising RightsIssue