Nxtdigital Ltd board approves rights issue to raise up to Rs. 300 crores

The board of directors of Nxtdigital Ltd at its meeting held today has approved the proposal for raising of funds through issuance and allotment of equity shares of face value of Rs. 10 each ('Equity Shares') for up to an aggregate amount of up to Rs. 300,00,00,000 (Rupees Three Hundred Crores only), on Rights basis on such terms (as decided by the Board of Directors or a duly constituted committee of the Board of Directors at a later date) to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently), subject to receipt of regulatory / statutory approvals, in accordance with the provisions of Section 62(1)(a) of the Companies Act, 2013 and the rules made thereunder and the applicable laws including the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and SEBI Listing Regulations ('Rights Issue').

The Offer price per share under Right Issue shall be Rs. 300/- per share and 2 (two) shares will be offered to the existing shareholders of the Company for 5 shares held by them.

The board approved constitution of Rights Issue Committee with delegation of powers in respect of Rights Issue including powers to decide all terms and conditions for Rights Issue and the matters connected and incidental thereto.

Shares of Nxtdigital Ltd. was last trading in BSE at Rs.526 as compared to the previous close of Rs. 515.7. The total number of shares traded during the day was 2098 in over 242 trades.

The stock hit an intraday high of Rs. 543.7 and intraday low of 501.25. The net turnover during the day was Rs. 1094728.

Source : Equity Bulls

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