Bhagiradha Chemicals & Industries Limited board approves rights issue to raise up to Rs. 100 crores

The Board of Directors of Bhagiradha Chemicals & Industries Limited, at its meeting held today, i.e., December 14, 2021, considered and approved the issuance of equity shares (fully paid-up), on rights basis to such eligible shareholders of the Company as on the record date (to be decided subsequently) for an aggregate amount not exceeding Rs. 100 crores (Rs. Hundred Crores only) (the "Issue") in accordance with applicable laws including the provision of the Companies Act, 2013 and Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the SEBI Listing Regulations, and applicable foreign exchange laws, and subject to such approvals, as may be required under the applicable laws, and other matters incidental and ancillary thereto.

The Board has constituted a Committee of Directors (Rights Issue Committee) to decide on the terms and conditions of the Issue including the final Issue size / amount, rights entitlement ratio, the issue price, record date, timing of the Rights Issue, appointment of lead merchant bankers, other intermediaries and legal counsel, and other related matters.

Shares of BHAGIRADHA CHEMICALS & INDUSTRIES LTD. was last trading in BSE at Rs. 976.60 as compared to the previous close of Rs. 946.10. The total number of shares traded during the day was 9626 in over 666 trades.

The stock hit an intraday high of Rs. 1021.15 and intraday low of 945.00. The net turnover during the day was Rs. 9590867.00.

Source : Equity Bulls

Keywords

BHAGIRADHACHEMICALSandINDUSTRIES INE414D01019 RightsIssue FundRaising