Kallam Textiles Limited board approves rights issue

The Board of Directors of Kallam Textiles Limited ("Board") at its meeting held today i.e., 9th November, 2021, considered and approved raising funds for the Company by way of issue of securities to the existing equity shareholders of the Company on a rights basis aggregating up to 10 Crores ("Rights Issue"), in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and all other applicable laws, subject to such statutory and regulatory approvals.

The Board has also constituted a Rights Issue Committee and authorised it to decide the terms and conditions of the Rights Issue including the appointment of Lead Manager and other Intermediaries involved in this process and Nature of Security, Issue Size, Issue Price, Timing of the Issue, Rights Entitlement Ratio, Record Date and all other matters related and incidental to the Rights Issue in consultation with the Lead Manager to the Rights Issue.

Shares of Kallam Textiles Ltd was last trading in BSE at Rs. 20.15 as compared to the previous close of Rs. 21.10. The total number of shares traded during the day was 51797 in over 418 trades.

The stock hit an intraday high of Rs. 21.05 and intraday low of 20.05. The net turnover during the day was Rs. 1048903.00.

Source : Equity Bulls

Keywords

KallamTextilesLtd INE629F01025 Textiles RightsIssue FundRaising