Megasoft Limited board approves rights issue

The Board of Directors of the Megasoft Limited (the "Company") at its meeting held on February 12, 2021 has considered and approved raising of funds by way of offer and issue of equity shares to the existing shareholders of the Company on a rights basis [Rights Issue).

The Board has constituted a Committee of Directors (the Committee) for the above purpose and has authorised the Committee to determine the terms of the Rights Issue including the quantum of issue, rights entitlement ratio, issue price, issue size, book closure or record date, entitlement timing of the issue, etc., in consultation with the Lead Manager to the Right Issue and to decide all other matters relating to the Right Issue.

The above proposal to issue of shares shall be subject to necessary approvals, confirmations and consents as may be necessary and in compliance with applicable law including the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013 and the Rules made there under.

Shares of MEGASOFT LTD. was last trading in BSE at Rs.10.46 as compared to the previous close of Rs. 10.87. The total number of shares traded during the day was 27577 in over 118 trades.

The stock hit an intraday high of Rs. 11.2 and intraday low of 10.46. The net turnover during the day was Rs. 305119.

Source : Equity Bulls

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