Credent Global Finance Ltd approves 1:2 rights issue

The Rights Issue Committee of the Board of directors of Credent Global Finance Limited (Formerly known as Oracle Credit Limited) at its meeting held today, i.e., Tuesday, 11th July 2023, have inter alia considered and approved the following terms of the Rights Issue:

Total number of Equity Shares and Rights Issue size: 34,68,750 fully paid-up Equity Shares for amount aggregating to INR 48,56,25,000.

Rights Issue Price: INR 140.00 per fully paid-up Equity Share (including a premium of INR 130.00 per Equity Share)

Record Date: Monday, 17th July, 2023

Rights Entitlement Ratio: 1 Equity Share for every 2 fully paid-up Equity Shares held by the eligible equity shareholders of the Company, as on the Record Date.

Rights Issue Period:

1. Rights Issue Opening Date: 25th July, 2023
2. Rights Issue Closing Date: 08th August, 2023

Outstanding Equity Shares:

1. Prior to the Rights Issue: 69,37,500 Equity Shares;
2. Post Rights Issue: 1,04,06,250 Equity Shares.
*Assuming Full Subscription.

Shares of Oracle Credit Ltd was last trading in BSE at Rs. 148.50 as compared to the previous close of Rs. 145.80. The total number of shares traded during the day was 2694 in over 89 trades.

The stock hit an intraday high of Rs. 152.90 and intraday low of 140.10. The net turnover during the day was Rs. 390591.00.

Source : Equity Bulls

Keywords

CredentGlobalFinance INE727C01016 NBFC FundRaising RightsIssue RecordDate 1For2