Rungta Irrigation Ltd allots rights shares

Rungta Irrigation Ltd's Rights Issue of upto 1,10,70,125 Equity Shares of face value of Rs.10/- each ("Rights Equity Shares") of the Company for cash at a price of Rs.11/- per Equity Share aggregating upto Rs.1217.71 Lakhs on Rights Basis to the eligible equity Shareholders of the Company in the ratio of 1.25 Rights Equity Shares for every 1 equity share held by the Eligible Equity Shareholders of the Company (the "Issue") on the Record Date i.e., November 11, 2022, opened for subscription on December 09, 2022 and closed on December 15, 2022.

Pursuant to the finalization of 'Basis of Allotment' of the Rights Issue in consultation with the designated Stock Exchange, BSE Limited, the Right Issue Committee, at its meeting held today i.e., December 21, 2022 approved the allotment of 1,10,70,125 Equity Shares having face value of Rs.10/- each to the eligible applicants in the Rights Issue at an issue price of Rs.11/- per Equity Share (wherein the applicants were required to pay Rs. 3/- per equity share on application and the balance Rs. 8.00 being payable on subsequent call(s) as may be decided by the Board).

The said allotment is pursuant to the terms set out in the Letter of Offer dated November 23, 2022 and the "Basis of Allotment" as finalised in consultation with the Beetal Financial & Computer Services Pvt Ltd ("Registrar to the Issue") and as approved by BSE Limited.

Shares of RUNGTA IRRIGATION LTD. was last trading in BSE at Rs. 28.05 as compared to the previous close of Rs. 29.50. The total number of shares traded during the day was 812 in over 10 trades.

The stock hit an intraday high of Rs. 29.50 and intraday low of 28.05. The net turnover during the day was Rs. 23139.00.

Source : Equity Bulls

Keywords

RUNGTAIRRIGATION INE347C01013 SharesAllotment RightsIssue