Deep Polymers Ltd board approves bonus issue, rights issue

The Board of Directors of Deep Polymers Limited at its meeting held today i.e., 15th January, 2022, have recommended the Bonus Issue of Equity Shares in the ratio of 3 (Three) fully paid-up Equity Share of Rs. 10 each for every 4 (Four)fully paid-up Equity Shares of Rs. 10 each held by the shareholders of the Company as on the record date, subject to the approval of Shareholders.

The Company will announce in due course, the "Record Date" for determining entitlement of the shareholders to receive Bonus Shares.

The board considered and approved the issue of up to 13,81,968 Equity share of Face value Rs 10/- each at issue price of Rs 350/- per equity share including premium of Rs 340/- per equity shares aggregating of Rs 48,36,88,800/- to all existing member of the company on rights(right issue), aforesaid right comes in effect post bonus issue.

The rights entitlement ratio is 6 equity shares for every 100 equity shares held by the eligible equity shareholder in the company as on record date.

The board considered and approved the formation of a committee of Directors to decide matters relating to the Rights Issue ("Rights Issue Committee") which includes, to decide or alter the treatment to be given to fractional entitlements, if any to make any applications to the regulatory authorities as may be required, determine the terms and conditions of the Right Issue including structure and timing of the issue.

Shares of Deep Polymers Ltd was last trading in BSE at Rs. 662.55 as compared to the previous close of Rs. 670.75. The total number of shares traded during the day was 45745 in over 943 trades.

The stock hit an intraday high of Rs. 679.40 and intraday low of 658.00. The net turnover during the day was Rs. 30446832.00.

Source : Equity Bulls

Keywords

DeepPolymers INE00IY01012 BonusIssue RightsIssue FundRaising