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Stock Report
Texmaco Rail and Engineering Ltd board approves 2:7 rights issue at Rs. 23 per share
Posted On : 2021-10-09 19:02:38( TIMEZONE : IST )
The Board of Directors of Texmaco Rail and Engineering Ltd ('Board') had earlier approved the offer and issue of equity shares of the Company by way of a rights issue, for an aggregate amount of up to ₹ 17,500 lakhs in accordance with applicable laws.
The Board at its said meeting has also authorised the Capital Issue Committee ('Committee') for finalising the Issue on such terms including but not limited to setting the record date, rights entitlement ratio, appointment of intermediaries, other related matters, etc.
The Committee at its Meeting held today has approved the terms and conditions of the Rights Issue:
Instrument: equity shares of face value ₹ 1 each ('Equity Shares').
Total Number of Equity Shares to be issued and Issue slze:7,15,26,643 Equity Shares, for an amount aggregating up to ₹ 164,51,12,789 (assuming full subscription).
Rights Issue Price: ₹ 23 per rights equity share (including a premium of ₹ 22 per equity share over face value of ₹ 1 per equity share).
Rights entitlement ratio: 2:7 i.e. 2 (Two) Equity Shares for every 7 (Seven) Equity Shares held by eligible equity shareholders of the Company as on the record date.
Issue period:
Issue Opening Date: Monday, 1st November, 202l.
Issue Closing Date: Monday, 15th November, 202l.
Record Date: The record date for the purpose of determining the shareholders who will be eligible to apply in the aforesaid Rights Issue is Friday, 22nd October, 202l.
Shares of Texmaco Rail & Engineering Limited was last trading in BSE at Rs. 35.95 as compared to the previous close of Rs. 36.05. The total number of shares traded during the day was 76232 in over 559 trades.
The stock hit an intraday high of Rs. 36.50 and intraday low of 35.90. The net turnover during the day was Rs. 2755838.00.
Shares of Texmaco Rail & Engineering Limited was last trading in NSE at Rs. 36.00 as compared to the previous close of Rs. 36.05. The total number of shares traded during the day was 496104 in over 1955 trades.
The stock hit an intraday high of Rs. 36.50 and intraday low of 35.90. The total traded value during the day was Rs. 17940006.90.
