A meeting of the board of directors (the "Board") of Arrow Greentech Limited (the "Company") was held today to consider a proposal for raising funds.
Accordingly, the Board has considered and approved the offer and issue of fully paid-up equity shares of the Company, in the ratio of 1:5 by way of a rights issue to existing eligible equity shareholders of the Company as at the record date, in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)Regulations, 2018 (the "Rights Issue").
Further, the Promoter shareholders have indicated that in case the Rights Issue is undersubscribed, each of the Promoter shareholders reserves the right to subscribe to part or whole amount of the unsubscribed portion, subject to applicable law.
For the purposes of giving effect to the Rights Issue, the Board has authorized the Capital Raising Committee to ecide the terms and conditions of the Rights Issue, including the instrument, issue price, rights entitlement ratio, record date, timing of the Rights Issue and other related matters.
Shares of Arrow Greentech Ltd was last trading in BSE at Rs.61.5 as compared to the previous close of Rs. 58.6. The total number of shares traded during the day was 4468 in over 33 trades.
The stock hit an intraday high of Rs. 61.5 and intraday low of 61.35. The net turnover during the day was Rs. 274698.