Lloyds Steels Industries Limited board approves rights issue to raise up to Rs. 99.90 crores

The Board of Directors of Lloyds Steels Industries Limited at its meeting held today i.e., June 14, 2023 (Wednesday), which commenced at 04:00 P.M. and concluded at 04:30 P.M. at the Corporate Office of the Company, have approved the Offer and issuance of fully paid-up equity shares of the Company for an amount not exceeding ₹9,990 Lakhs (Rupees Nine Thousand Nine Hundred Ninety Lakhs) by way of a Rights Issue to the eligible equity shareholders of the Company as on Record Date (to be determined and notified subsequently), in accordance with the applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), 2018, as amended, subject to such approvals, as may be required under the applicable laws (hereinafter referred to as "Rights Issue").

The Board also approved the formation of a Rights Issue Committee / Securities Issue Committee (herein after referred as "Committee") for the said Rights Issue to decide on the terms and conditions of the Rights Issue including but not limited to the rights entitlement ratio, the issue price, record date, timing of the Rights Issue and other related matters.

Shares of Lloyds Steels Industries Limited was last trading in BSE at Rs. 26.33 as compared to the previous close of Rs. 25.73. The total number of shares traded during the day was 1355004 in over 3058 trades.

The stock hit an intraday high of Rs. 26.70 and intraday low of 25.69. The net turnover during the day was Rs. 35367750.00.

Source : Equity Bulls

Keywords

LloydsSteelsIndustries INE093R01011 FundRaising RightsIssue