Deep Polymers Ltd board to consider bonus issue, rights issue

A meeting of the Board of Directors of Deep Polymers Ltd is scheduled to be held on Saturday, 15th January, 2022, to consider and approve issue of Bonus Shares to the existing Equity Shareholders of the Company and to increase the Authorised Share Capital of the Company and subsequent alteration to the Memorandum of Association of the Company.

The board will also consider approve proposal to raise funds up to an aggregate value, of not exceeding Rs. 50 Crore, subject to receipt of necessary approvals from statutory, regulatory and other authorities, as applicahle by way of Issue of Equity Shares of the Company to Its eligible shareholders on a rights basis ("Right Issue") in accordance with the applicable provisions of Companies Act, 2013, Securities and Exchange Board of India (ICDR) Regulations 2018 and other applicable laws.

The board will consider proposal to form a committee of Directors to decide matters relating to the Rights Issue ("Rights Issue Committee") which includes, inter alia, to decide or alter the treatment to be given to fractional entitlements, to make any applications to the regulatory authorities as may be required, deterinine the terms and conditions of the Right Issue including structure, price, timing of the issue, appoint lead managers, legal counsel, advisors and other intermediaries. 5. To-consider and fix the Record date for the proposed issue of the Company.

Shares of Deep Polymers Ltd was last trading in BSE at Rs. 753.90 as compared to the previous close of Rs. 769.20. The total number of shares traded during the day was 320204 in over 3023 trades.

The stock hit an intraday high of Rs. 770.10 and intraday low of 735.00. The net turnover during the day was Rs. 240920178.00.

Source : Equity Bulls

Keywords

DeepPolymers INE00IY01012 SpecialtyChemicals BonusIssue RightsIssue