Share India Securities Ltd to raise upto Rs. 1000 crore through rights issue

The Board of Directors of Share India Securities Limited, at its meeting held today, i.e., December 26, 2022 has, considered and approved the fund raising by way of the Rights Issue of Specified Securities, to eligible equity shareholders of the Company as on the record date (to be notified later), for a maximum amount not exceeding Rs. 1000 Crore (the "Issue"), subject to applicable laws.

The board approved the appointment of M/s Corporate Professionals Capital (P) Ltd, SEBI Registered Category I Merchant Bankers to act as a "Lead Manager to the Issue".

The board has also constituted 'Rights Issue Committee' to decide and finalize the type of instrument, issue price, no. of Rights shares to be issued and other terms and conditions of the Issue, including but not limiting to deciding the rights entitlement ratio, record date, timing, terms and schedule of payment etc, from time to time.

Shares of Share India Securities Limited was last trading in BSE at Rs. 1175.40 as compared to the previous close of Rs. 1135.10. The total number of shares traded during the day was 14367 in over 570 trades.

The stock hit an intraday high of Rs. 1183.00 and intraday low of 1102.00. The net turnover during the day was Rs. 16837413.00.

Source : Equity Bulls

Keywords

ShareIndiaSecurities INE932X01018 RightsIssue FundRaising INR1000Crore