Radhe Developers India Ltd board approves rights issue

The Board of Directors of Radhe Developers India Ltd, at its meeting held today, has considered and approved, subject to receipt of relevant approvals from Regulatory authorities, as may be required, issue of Equity shares by way of Right Issue to the existing shareholders of the company on a record date for an amount not exceeding Rs. 800 crores.

The Board of Directors of the Company also approved the appointment of various intermediaries in connection with the Right Issue and approved the formation of a committee of Directors for the said Rights Issue to decide on the terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, record date, timing of the Rights Issue and other related matters.

Shares of RADHE DEVELOPERS (INDIA) LTD. was last trading in BSE at Rs. 325.05 as compared to the previous close of Rs. 309.60. The total number of shares traded during the day was 421834 in over 2875 trades.

The stock hit an intraday high of Rs. 325.05 and intraday low of 294.15. The net turnover during the day was Rs. 125982109.00.

Source : Equity Bulls

Keywords

RADHEDEVELOPERSINDIALTD INE986B01036 Realty RightsIssue FundRaising RealEstate