UPL Limited board approves rights issue proposal

The Board of Directors of UPL Limited (the "Board") at its meeting held today, i.e., on Friday, 22nd December, 2023, approved the proposal for fund raising for an amount aggregating upto ₹ 4,200 crores 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 by the Board or duly constituted committee of the Board, in accordance with applicable laws, subject to receipt of necessary approvals, as may be required.

Shares of UPL Limited was last trading in BSE at Rs. 581.70 as compared to the previous close of Rs. 577.90. The total number of shares traded during the day was 83721 in over 3409 trades.

The stock hit an intraday high of Rs. 585.90 and intraday low of 577.60. The net turnover during the day was Rs. 48745919.00.

Source : Equity Bulls

Keywords

UPL INE628A01036 FundRaising RightsIssue