MKVentures Capital Ltd approves 1:8 rights issue at Rs. 936 per share

The Board of Directors of MKVentures Capital Limited in their meeting held on Monday, March 20, 2023, commenced at 07:30 p.m. and concluded at 10:00 p.m., considered and approved the Letter of Offer for filing with the BSE Limited and submission thereof with the S0ecurities and Exchange Board of India ("SEBI").

The board approved the abridged Letter of Offer, Application Form of Rights Issue, and Rights Entitlement Letter, to be sent to the eligible equity shareholders of the Company.

The following are the terms and conditions of the Rights Issue:

Instrument: Fully paid-up equity shares of face value of Rs. 10 each ("Rights Equity Shares").

Total number of Rights Equity Shares and Rights Issue size: 4,27,050 Rights Equity Shares of Rs. 10 each at an issue price of Rs. 936/- aggregating up-to Rs. 39,97,18,800/-.

Issue Price: Rs. 936/- per Rights Equity Share payable on application.

Issue period:

Issue Opening Date: April 17, 2023
Issue Closing Date: April 25, 2023

Rights entitlement ratio: 1 (One) Rights Equity Shares for every 8(Eight) fully paidup equity shares held by the eligible shareholders of the Company as on the Record Date.

Record Date: Tuesday, April 04, 2023 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders").

Shares of MKVentures Capital Ltd. was last trading in BSE at Rs. 1170.80 as compared to the previous close of Rs. 1173.00. The total number of shares traded during the day was 1784 in over 77 trades.

The stock hit an intraday high of Rs. 1220.00 and intraday low of 1150.00. The net turnover during the day was Rs. 2122860.00.

Source : Equity Bulls

Keywords

MKVenturesCapital INE874A01010 RightsIssue FundRaising 1For8