Chemplast Sanmar announces 2:3 rights issue

Chemplast Sanmar Ltd has announced that the Committee of the Board of Directors of the Company at their meeting held today approved the issue of equity shares on rights basis in the ratio of 2 equity shares of Re.1 each for every 3 existing fully paid equity shares of Re.1 each held, on the record date to be fixed, at an issue price of Rs.5 per share.

The total number of equity shares that will be issued on rights basis will be 31,98,79,627 equity shares of Re.1 each and the total issue proceeds would be Rs.159.94 crores. The record date will be fixed in accordance with the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000."

The Stock closed on Friday at Rs.3.60, up by Rs.0.05 or 1.41%. The stock hit an intraday high of Rs.3.65 and low of Rs.3.40.

The total traded quantity was 23688 at an average price of Rs.3.53 resulting in a turnover of Rs.0.84 Lakhs.

Source : Equity Bulls

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