KDDL Ltd announces 7:75 rights issue at Rs. 230 per share

The board of directors of KDDL Ltd at its meeting held on March 23, 2021 has approved the terms of the rights issue.

The company has proposed to issue upto 10,86,956 fully paid-up equity shares of face value of Rs. 10 each for an amount aggregating to Rs. 25 crores*.

The rights issue price is fixed as Rs. 230/- per equity share (including premium of Rs. 220/- per rights equity share)

Rights Entitlement Ratio: 7 (Seven) Rights Equity shares of Rs. 10 each for every 75 (Seventy Five) equity shares of Rs. 10 each held by the eligible shareholders in the company as on the record date with right to renounce.

The record date is fixed as 31-03-2021 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ('Eligible Equity Shareholders')

Rights Issue Opening Date - April 9, 2021.

Last Date for on market renunciation of rights entitlement - April 19, 2021.

Rights Issue Closing Date - April 23, 2021.

Shares of KDDL LTD. was last trading in BSE at Rs.273 as compared to the previous close of Rs. 281.95. The total number of shares traded during the day was 1763 in over 38 trades.

The stock hit an intraday high of Rs. 274 and intraday low of 262.55. The net turnover during the day was Rs. 478648.

Source : Equity Bulls

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