Coastal Corporation Ltd approves rights issue

The Management Committee as authorized by the Board of Directors of Coastal Corporation Ltd in their Meeting held on February 10, 2016, has approved the Right Issue.

In consultation with the Lead Manager to the Right Issue, the Management Committee has decided to issue equity shares on Right basis in the ratio of 1:1 i.e. 1 Equity Share for every 1 Fully Paid Up Equity Share held as on the Record Date to be fixed at a later date. The issue size for the upcoming Right Issue will be upto Rs. 4 crores.

Further, terms of the Rights Issue including the issue price, book closure or record date, timing of the issue etc will be decided later, in consultation with the Lead Managers to the Right Issue.

Such details shall be informed and / Or announced in due course as and when decided or required, as per applicable statutory provisions.

Shares of COASTAL CORPORATION LTD. was last trading in BSE at Rs.28.65 as compared to the previous close of Rs. 28.65. The total number of shares traded during the day was 100 in over 1 trades.

The stock hit an intraday high of Rs. 28.65 and intraday low of 28.65. The net turnover during the day was Rs. 2865.

Source : Equity Bulls

Keywords