Chitradurga Spintex Ltd approves preferential issue

The Board of Directors of Chitradurga Spintex Ltd has discussed, considered and approved the allotment of 8,00,000 Equity Shares of Rs. 10/- each on preferential basis to the persons belonging to the Non-Promoter Category at a price of Rs. 15.00 (Rupees Fifteen only) per equity share aggregating to Rs. 1,20,00,000 (Rupees One Crore Twenty Lakhs only) in accordance with the provision of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time, approval of shareholders at the Extra ordinary General Meeting held on 6th May, 2022 and In principle approval accorded by BSE vide its letter dated 18th May, 2022.

The board also approved the allotment of 21,50,000 Equity Shares of Rs. 10/- each on preferential basis to the persons belonging to Non-Promoter Category and proposed to be classified as promoter pursuant to Open offer under SEBI (Substantial Acquisitions of Shares and Takeovers) Regulations, 2011, at a price of Rs. 15.00 (Rupees Fifteen only) per equity share aggregating to Rs. 3,22,50,000 (Rupees Three Crore Twenty Two Lakhs Fifty Thousands only) in accordance with the provision of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time, approval of shareholders at the Extra ordinary General Meeting held on 6th May, 2022 and In principle approval accorded by BSE vide its letter dated 18th May, 2022.

Source : Equity Bulls

Keywords

ChitradurgaSpintex PreferentialIssue FundRaising