Alan Scott Industries Ltd board approves 1:1 rights issue

The Rights Issue Committee of Alan Scott Industries Limited at its meeting held today on Monday, 12th June, 2023, at the Registered Office of the Company at 302, Kumar Plaza, Kalina Kurla Road, Santacruz East, Mumbai - 400 029 at 03.00 p.m. and concluded at 04.00 p.m. The Board considered and approved the following terms and conditions of the Rights Issue.

Total number of partly pa id-up Equity Shares 18,25,377 (Eighteen Lakhs Twenty Five Thousand Three Hundred and Seventy Seven) partly-up Equity Shares, face value of Rs. 10/- each at issue price of Rs.30/- (Rupees Thirty only) per equity Including premium of Rs 20/- each share aggregating to an amount of Rs. 5,47,61,3 10/- (Rupees Five Crores Forty Seven Lakhs Sixty One Thousand Three Hundred and Ten Only) to all the eligible equity shareholders of the Company on a rights Basis.

Issue Price:

Rs. 30/- (Rupees Thirty Only) per Equity Share (Including Premium of Rs.20/- each).

Record Date:

Friday, 16th June, 2023 for the purpose of determining the equity shareholders entitled to receive the Rights Entitlement in the Rights Issue ("Eligible Equity Shareholders").

Right Entitlement Ratio:

1 (one) Rights Equity Shares for Every 1 (One) Fully Paid Equity Shares held by the existing shareholders as on the Record Date.

Outstanding Equity Shares:

- Prior to the Rights Issue - 18,25,377
Post Rights Issue* - 36,50,754
*Assuming full subscription

Right Issue Period:

Issue Opening Date - Thursday, June 29, 2023
Last Date of Market Renunciation - Friday, July 7, 2023
Issue Closing Date - Thursday, July 13, 2023*

Shares of Alan Scott Industries Ltd was last trading in BSE at Rs. 57.94 as compared to the previous close of Rs. 55.19. The total number of shares traded during the day was 5188 in over 23 trades.

The stock hit an intraday high of Rs. 57.94 and intraday low of 57.94. The net turnover during the day was Rs. 300592.00.

Source : Equity Bulls

Keywords

AlanScottIndustries INE273F01022 RightsIssue 1For1 FundRaising