The Board of Directors (Board) of Bafna Pharmaceuticals Ltd, have approved the raising of funds by way of offer and issue of equity shares to the existing shareholders of the Company on a rights basis (Rights Issue) for an aggregate amount upto INR 50 Crore.
The Board has constituted a Rights Issue Committee of Directors for the above purpose and has authorised the Committee to determine the terms of the Rights Issue including the quantum of issue, rights entitlement ratio, issue price, issue size, book closure or record date, entitlement timing of the issue, appointment of intermediaries, etc., in consultation with the Lead Manager to the Right Issue and to decide all other matters relating to the Right Issue. The above proposal to issue of shares shall be subject to necessary approvals, confirmations and consents as may be necessary and in compliance with applicable law and SEBI regulations.
Shares of Bafna Pharmaceuticals Limited was last trading in BSE at Rs. 136.95 as compared to the previous close of Rs. 144.15. The total number of shares traded during the day was 2067 in over 111 trades.
The stock hit an intraday high of Rs. 150.00 and intraday low of 136.95. The net turnover during the day was Rs. 289749.00.