Enbee Trade and Finance Ltd board approves rights issue

The Board of Directors of Enbee Trade and Finance Ltd at their meeting held today, i.e. on Thursday, January 12, 2023, have discussed and approved the proposal to raise funds by way of the issue of equity shares of the company to its eligible shareholders on a right basis ('Rights issue'), not exceeding INR 50 Crores, subject to receipt of necessary approvals, as applicable and in accordance with applicable provisions of the Companies Act, 2013, as amended, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws.

The board approved constitution of a Special Committee of the Board of Directors to decide on the matters relating to right issue, in the name and style of 'Rights Issue Committee' which includes, to decide or alter the treatment to be given to fractional entitlements, fix the ratio and issue price, to make any applications to the regulatory authorities as may be required, determine the terms and conditions of the Rights issue including the total amount of Rights Issue, structure, price, the timing of the issue, appointment the of lead managers, Registrar and share transfer agents, legal counsel, advisors, and other intermediaries.

The Rights Issue Committee shall comprise Mr. Amarr Narendra Galla, Managing Director, Mrs. Ssamta Amar Gaala, Executive Director, and Mr. Jayesh Gulabbhai Patel, Independent Director.

Shares of ENBEE TRADE & FINANCE LTD. was last trading in BSE at Rs. 43.00 as compared to the previous close of Rs. 44.70. The total number of shares traded during the day was 508 in over 16 trades.

The stock hit an intraday high of Rs. 45.45 and intraday low of 42.50. The net turnover during the day was Rs. 21740.00.

Source : Equity Bulls

Keywords

ENBEETRADEandFINANCE INE993I01011 FundRaising RightsIssue