Enbee Trade and Finance Ltd approves 20:1 rights issue

The Rights Issue Committee of Enbee Trade and Finance Ltd has at its meeting held on May 4, 2023 approved to increase the size of the Rights Issue as was disclosed in the Draft Letter of Offer dated February 28, 2023 which was filed with BSE, from an amount aggregating upto Rs. 4,800 Lakhs to an amount aggregating upto Rs. 4,800.15 lakhs. The revised size of the Issue is within the limit approved by the Board of Directors in their meeting held on January 12, 2023 and is within the limits prescribed under Schedule XVI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended.

The Rights Issue Committee at its meeting held today, May 4, 2023, has considered and approved the following terms of the Rights Issue:

Instrument: Fully paid-up Equity Shares of face value of Rs.10/- each.

Total number of Equity Shares and Rights Issue size: 3,20,01,000# Equity Shares of face value of Rs. 10 each, for an aggregate amount not exceeding Rs. 4,800.15# Lakhs;

#Assuming full subscription. Subject to finalisation of the Basis of Allotment.

Rights Issue Price: Rs.15/- (Including a premium of Rs. 5/-) per Rights Equity Share.

Record Date: Wednesday, May 10, 2023 designated for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders");

Rights Issue Period:

Rights Issue Opening Date: Thursday, May 18, 2023; and
Rights Issue Closing Date: Thursday, June 1, 2023.

Rights entitlement ratio: Upto Twenty (20) Rights Equity Share for every one (01) fully paid-up Equity Share(s) held on the Record Date held by the Eligible Shareholders as on the Record Date.

Shares of ENBEE TRADE & FINANCE LTD. was last trading in BSE at Rs. 34.64 as compared to the previous close of Rs. 36.21. The total number of shares traded during the day was 56073 in over 229 trades.

The stock hit an intraday high of Rs. 37.90 and intraday low of 34.40. The net turnover during the day was Rs. 1962294.00.

Source : Equity Bulls

Keywords

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