SVP Housing Limited board approves rights issue

The Board of Directors of SVP Housing Limited in their meeting held today i.e. June 30, 2023, has considered and approved the increase in Authorized Share Capital of the Company from Rs. 25,00,00,000/- to Rs. 50,00,00,000/- subject to the approval of members of the Company.

The board approved issuance of equity shares or other convertible securities or a combination thereof, as is permitted under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 on rights basis to eligible shareholders of the Company as on the record date (to be decided subsequently) for an aggregate amount not exceeding Rs. 65.00 crores (Rs. Sixty- five Crores only) (the "Issue").

The board approved the appointment of M/s. Corporate Professionals Capital (P) Ltd, SEBI Registered Category I Merchant Bankers to act as a "Lead Manager to the Issue".

Further, the Board has constituted a 'Capital Raising Committee' to decide other terms and conditions of the Issue, including but not limited to finalize the combination of eligible securities, issue size, issue price, rights entitlement ratio, record date, timing, terms and schedule of payment, from time to time.

Shares of SVP Housing Ltd was last trading in BSE at Rs. 100.63 as compared to the previous close of Rs. 101.15. The total number of shares traded during the day was 455000 in over 128 trades.

The stock hit an intraday high of Rs. 106.20 and intraday low of 97.00. The net turnover during the day was Rs. 47379575.00.

Source : Equity Bulls

Keywords

SVPHousing INE369Q01017 FundRaising RightsIssue