Max Ventures and Industries Ltd approves rights issues

The Board of Director of Max Ventures and Industries Ltd at its meeting held on January 15, 2018, has considered and approved raising of funds by way of offer and issue of equity shares to the existing members of the Company on rights basis (Rights Issue), at such price and right entitlement ratio as may be decided by the Board, for an amount aggregating up to Rs. 450 crores, subject to necessary approvals and consent as may be necessary / required for compliance of applicable laws, including the provisions of the SEBI (ICDR) Regulations, 2009, as amended, the SEBI (LODR) Regulations, 2015, as amended, and the Companies Act, 2013. as amended.

Upon recommendation of the Nomination and Remuneration Committee, the Board has approved the appointment of Mr. Gopalakrishnan Ramachandran as the Company Secretary of the Company and Compliance Officer under SEBI (LODR) Regulations, 2015, w.e.f. January 15, 2018.

Shares of Max Ventures and Industries Ltd was last trading in BSE at Rs.88 as compared to the previous close of Rs. 87.25. The total number of shares traded during the day was 31416 in over 357 trades.

The stock hit an intraday high of Rs. 89.25 and intraday low of 85.35. The net turnover during the day was Rs. 2756330.

Source : Equity Bulls

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