Garnet International Limited board approves rights issue to raise upto Rs. 40 crores

The Board of Directors of Garnet International Limited at their meeting held today i.e. June 06, 2023, approved the raising of funds, through issuance and allotment of equity shares of face value ₹ 10 each ("Equity Shares") for an aggregate amount less than ₹ 40.00 crores (Rupees Forty Crores), on rights basis on such terms (to be decided later) to the eligible equity shareholders of the Company, as on the record dated (to be notified subsequently), subject to receipt of regulatory / statutory approvals, as amended from time to time and approved other related matters. Further a Committee of Directors ("Right Issue Committee") is duly constituted to decide the other terms and conditions related to Rights Issue, including deciding on the record date, determining the rights issue price, rights entitlement ratio, appointment of intermediaries, merchant bankers and other related matters.

Shares of GARNET INTERNATIONAL LTD. was last trading in BSE at Rs. 59.93 as compared to the previous close of Rs. 57.33. The total number of shares traded during the day was 36275 in over 106 trades.

The stock hit an intraday high of Rs. 60.19 and intraday low of 56.26. The net turnover during the day was Rs. 2152432.00.

Source : Equity Bulls

Keywords

GARNETINTERNATIONAL INE590B01010 FundRaising RightsIssue