Reliance MediaWorks Board approves Rights Issue of Rs.600 crore

The Board of Directors of Reliance MediaWorks Ltd at its meeting held on July 25, 2012 have approved raising an amount not exceeding Rs. 600 Crore by way of Rights Offer of Equity Shares to the Company's Shareholders, subject to necessary sanctions, approvals and applicable provisions of law.

The price, share entitlement ratio, timing and other details and modalities for the said Rights Offer shall be announced in due course.

The Reliance MediaWorks Ltd stock was trading at Rs.60.35, up by Rs.1.45 or 2.46%. The stock hit an intraday high of Rs.61.80 and low of Rs.58.60.

The total traded quantity was 2.54 lakhs compared to 2 week average of 1.40 lakhs.

Source : Equity Bulls

Keywords