Shiva Cement Limited to raise Rs. 400 crore through rights issue

The Board of Directors of Shiva Cement Limited (the "Board") at its meeting held today, i.e., on Thursday, 14th September, 2023, approved the proposal for fund raising for an amount aggregating up to ₹400 crore subject to receipt of statutory / regulatory approvals, as may be required under applicable law, by way of issue of equity shares on rights issue basis to the eligible equity shareholders of the Company as on the 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 Disclosures Requirements) Regulations, 2018 as amended from time to time.

For the purposes of giving effect to the rights issue, the detailed terms to the rights issue including but not limited to the issue price, rights entitlement ratio, record date, timing and terms of payment will be determined in due course.

Shares of SHIVA CEMENT LTD. was last trading in BSE at Rs. 50.70 as compared to the previous close of Rs. 49.36. The total number of shares traded during the day was 336059 in over 1110 trades.

The stock hit an intraday high of Rs. 51.50 and intraday low of 50.00. The net turnover during the day was Rs. 17069981.00.

Source : Equity Bulls

Keywords

SHIVACEMENT INE555C01029 FundRaising RightsIssue