Iykot Hitech Toolroom Ltd board approves rights issue

The Board of Directors of Iykot Hitech Toolroom Ltd at its meeting held on 10 February 2023 have approved the offer and issuance of equity shares of the Company (the "Equity Shares") for an amount, including premium if any, not exceeding Rs. 10 Crores (Rupees Ten 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.

Shares of IYKOT HITECH TOOLROOM LTD. was last trading in BSE at Rs. 25.55 as compared to the previous close of Rs. 24.35. The total number of shares traded during the day was 5068 in over 15 trades.

The stock hit an intraday high of Rs. 25.55 and intraday low of 25.55. The net turnover during the day was Rs. 129487.00.

Source : Equity Bulls

Keywords

IYKOTHITECHTOOLROOM INE079L01013 FundRaising RightsIssue