Som Distilleries & Breweries Ltd Board approves Rights Issue of equity shares

The Board of Directors of the Company at its meeting held on July 20, 2021, has considered and approved a proposal of fund raising through a Rights Issue.

The Board approved the offer and issuance of upto 49,99,058 fully paid-up equity shares of the Company by way of a Rights Issue in proportion of 1:13 to the existing equity shareholders of the Company as on the record date (to be notified subsequently), at such price as may be decided by the Board subject to necessary approvals and consent as may be necessary / required for compliance of applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and the Companies Act, 2013 as amended.

Further, the Board has authorised the Committee of board to proceed with the Rights Issue forthwith, and, decide the other terms and conditions of the Rights Issue, including setting the record date, determining the price, appointment of intermediaries and various other related matters.

Shares of SOM DISTILLERIES & BREWERIES LTD. was last trading in BSE at Rs.51.95 as compared to the previous close of Rs. 49.5. The total number of shares traded during the day was 199692 in over 1418 trades.

The stock hit an intraday high of Rs. 51.95 and intraday low of 48.5. The net turnover during the day was Rs. 10294422.

Source : Equity Bulls

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