Praxis Home Retail Ltd board fixes Sep 8, 2021 as record date for rights issue

The Board of Directors of Praxis Home Retail Ltd has, at its meeting held today, inter alia have considered and approved the issue of 4,35,99,433 Equity Shares of face value of Rs. 5/- each at an issue price of Rs. 11.35/- per Equity Share (including premium of Rs. 6.35/- per Equity Share) for an amount aggregating upto Rs. 4,948.54 lakhs to all the existing equity shareholders of the Company on a rights basis ("Rights Issue").

The ratio is 11 Rights Equity Shares of Rs. 5/- each for every 8 Equity Shares of Rs.5/- each held by the equity shareholders in the Company as on the record date ("Eligible Equity Shareholders") with the right to renounce.

The board has also fixed Wednesday, September 8, 2021 as the record date for the purpose of determining names of shareholders of the Company eligible to apply for the Equity Shares in the Rights Issue of the Company ("Record Date")at the Board of Directors Meeting held today September 02, 2021.

The full amount of the Issue Price being Rs. 11.35/ will be payable on application.

The Outstanding Equity Shares prior to the Rights Issue is 3, 17,08,679 Equity Shares of Rs. 5/- each and Outstanding Equity Shares post Rights Issue (assuming full subscription) will be 7,53,08,112 Equity Shares of Rs.5/- each.

Shares of Praxis Home Retail Limited was last trading in BSE at Rs. 46.4 as compared to the previous close of Rs. 44.2. The total number of shares traded during the day was 318 in over 3 trades.

The stock hit an intraday high of Rs. 46.4 and intraday low of 46.4. The net turnover during the day was Rs. 14755.

Source : Equity Bulls

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