Rajapalayam Mills Limited allots 12,29,360 Rights Equity Shares

In terms of the Letter of Offer dated February 27, 2021 and in accordance with the Basis of Allotment finalized in consultation with BSE Limited (Designated Stock Exchange), the Lead Manager to the Issue and the Registrar to the Issue, the Rights Issue Committee of Rajapalayam Mills Limited has, at its meeting held on April 9, 2021, approved the allotment of 12,29,360 Rights Equity Shares of face value of Rs. 10 each at a price of Rs. 569 per Rights Equity Share including a share premium of Rs. 559 per Rights Equity Share.

Consequent to the said allotment, the paid up equity shares capital of the Company has increased to 86,05,520 Equity Shares of Rs. 10 each fully paid up aggregating to Rs. 8,60,55,200.

Shares of RAJAPALAYAM MILLS LTD. was last trading in BSE at Rs.701 as compared to the previous close of Rs. 699.9. The total number of shares traded during the day was 2281 in over 149 trades.

The stock hit an intraday high of Rs. 705.4 and intraday low of 690. The net turnover during the day was Rs. 1593973.

Source : Equity Bulls

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