Cressanda Solutions Limited board approves 6:97 rights issue

The Board of Directors of Cressanda Solutions Limited at their meeting held on 12th June 2023 have considered and approved the terms of the proposed Right Issue.

Issue Price - Rs. 20/- per Equity share (including a premium of Rs. 19/- per equity share)

Issue Size - Up to Rs. 49,29,84,120/- (Rupees Forty-Nine Crores Twenty Nine Lakhs Eighty Four Thousand One Hundred and Twenty only)

Right Entitlement Ratio - 06:97 06 (Six) Rights Equity Shares having face value of Re. 01/- (Rupee One only) for every 97 (Ninety Seven) Equity Share held by the equity shareholders of the Company as on the Record Date with the Right to renounce.

Record Date - 16th June 2023

Issue Opening Date - 27th June 2023

Issue Closing Date - 11th July 2023

Last date for Market Renunciation of Rights Entitlement - 05th July 2023

Outstanding Equity Shares:

Prior to Right Issue - 39,84,95,500 Equity Shares of Re. 01/- each

Post Right Issue - 42,31,44,706 Equity Shares of Re. 01/- each

*assuming full subscription.

Shares of CRESSANDA SOLUTIONS LTD. was last trading in BSE at Rs. 28.82 as compared to the previous close of Rs. 28.50. The total number of shares traded during the day was 1620116 in over 949 trades.

The stock hit an intraday high of Rs. 29.24 and intraday low of 28.50. The net turnover during the day was Rs. 46880940.00.

Source : Equity Bulls

Keywords

CRESSANDASOLUTIONS INE716D01033 FundRaising RightsIssue 6For97