Shree Ganesh Remedies Ltd Board approves Rights Issue of equity shares

The Board of Directors of Shree Ganesh Remedies Ltd at its meeting held on November 19, 2021 has considered and approved the proposal for raising of funds by issuance of equity shares of the Company (the "Equity Shares") for an amount not exceeding Rs. 45 Crore (Rupees Forty-Five Crore Only) by way of a rights issue to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to such approvals, as may be required under the applicable laws ("Rights Issue").

For the purposes of giving effect to the Rights Issue, the detailed terms in relation to the Rights Issue, including but not limited to the issue price, rights entitlement ratio, record date, timing and terms of payment will be determined in due course.

Shares of Shree Ganesh Remedies Ltd was last trading in BSE at Rs. 344.80 as compared to the previous close of Rs. 341.30. The total number of shares traded during the day was 3844 in over 244 trades.

The stock hit an intraday high of Rs. 345.10 and intraday low of 335.00. The net turnover during the day was Rs. 1312319.00.

Source : Equity Bulls

Keywords

ShreeGaneshRemediesLtd INE414Y01015 Pharmaceuticals RightsIssue FundRaising