Cosboard Industries Ltd approves 1:1 rights issue

The Right Issue Committee of the Board of Directors of Cosboard Industries Ltd in its meeting held today, 13th September, 2017 has, considered, approved and adopted the Draft Letter of offer for submitting with Securities and Exchange Board of India and BSE Limited with respect of issue of 1 (one) Equity share for every 1 (one) Equity share having face value of Rs. 10 each on right Basis to the Existing shareholders of the Company.

The committee authorized Compliance officer of the Company for making public announcement in the newspaper with respect of filing the Draft Letter of offer with the Securities and Exchange Board of India and BSE Limited.

Shares of COSBOARD INDUSTRIES LTD. was last trading in BSE at Rs.47.35 as compared to the previous close of Rs. 49.9. The total number of shares traded during the day was 16760 in over 90 trades.

The stock hit an intraday high of Rs. 52 and intraday low of 47.35. The net turnover during the day was Rs. 822163.

Source : Equity Bulls

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