MKVentures Capital Ltd board approves rights issue

The Board of Directors of MKVentures Capital Limited (formerly "IKAB SECURITIES AND INVESTMENT LIMITED") at its Meeting held today, i.e. on Tuesday, December 20, 2022, has considered and unanimously approved the offer and issuance of equity shares of the Company (the "Equity Shares") for an amount, including premium, not exceeding Rs. 25 Crores (Rupees Twenty-Five Crores) by way of a rights issue to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to such approvals, as may be required under the applicable laws ("Rights Issue").

The Board constituted a Rights Issue Committee for the purposes of giving effect to the Rights Issue, the detailed terms in relation to the Rights Issue, including but not limited to the issue price, rights entitlement ratio, record date, timing and terms of payment will be determined in due course.

The board also approved the appointment of Choice Capital Advisors Private Limited, as the Merchant Banker to the Rights Issue.

Shares of MKVentures Capital Limited (formerly "IKAB SECURITIES AND INVESTMENT LIMITED") was last trading in BSE at Rs. 936.50 as compared to the previous close of Rs. 891.95. The total number of shares traded during the day was 669 in over 19 trades.

The stock hit an intraday high of Rs. 936.50 and intraday low of 936.50. The net turnover during the day was Rs. 626518.00.

Source : Equity Bulls

Keywords

MKVenturesCapitsl INE874A01010 FundRaising RightsIssue