Cosboard Industries Ltd forms Rights Issue Committee to raise Rs. 25 crores

The Board of Directors of Cosboard Industries Ltd in its meeting held today, 30th August, 2017 has, considered and approved the proposal for raising funds through Issuance of equity shares on right Basis (Right Offer) to the existing shareholders of the Company to the extent of about Rs. 25.00 crores or such amount as may be decided by Right Issue Committee.

The Board had constituted a Sub-Committee called 'Right Issue Committee' to decide upon the time for right offer, Quantum of offer, Pricing, Book Closure and other formalities as may be required in this behalf.

Shares of COSBOARD INDUSTRIES LTD. was last trading in BSE at Rs.45.25 as compared to the previous close of Rs. 46. The total number of shares traded during the day was 24051 in over 83 trades.

The stock hit an intraday high of Rs. 46.85 and intraday low of 45. The net turnover during the day was Rs. 1094034.

Source : Equity Bulls

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