Arihant Superstructures to open Rights Issue on March 9, 2010

Arihant Superstructures Ltd has announced that the Board of Directors of the Company at its meeting held on February 23, 2010, inter alia, have approved & signed the Letter of Offer with respect to the issue of 14,691,000 Equity Shares of Rs. 10/- each at par on Rights basis in the ratio of 59 Equity Shares for every 1 Equity Share held.

The dates for the Rights Issue has been decided. The Date of opening the issue: March 09, 2010, Last date for request for split application form : March 16, 2010 and the Date of closing the issue: March 23, 2010.

The Bankers to the Rights Issue are Axis Bank Ltd.

The Company has received Rs. 743 Lacs with respect to promoters' contribution and the board has passed a resolution to the effect that specified securities would be allotted to the promoters as per Issue of Capital and Disclosure Requirements (ICDR) guidelines.

Source : Equity Bulls

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