Nakoda Group of Industries Limited board approves rights issue

The Board of directors of Nakoda Group of Industries Limited has approved the fund raising and issuance of fully paid equity shares of the company for an amount not exceeding Rs. 49 Crores (Rupees Forty Nine Crores) by way of a rights issue to the eligible equity shareholders of the company as on the record date (to be determined and informed subsequently), in accordance with applicable laws, including the Securities 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"). For the purpose of giving effect to the Rights issue, the detailed terms in relation to the Rights issue, including but not limiting to the issue price, issue size, rights entitlement ratio, record date, timing and terms of payment will be determined in due course.

Shares of Nakoda Group of Industries Ltd was last trading in BSE at Rs. 56.25 as compared to the previous close of Rs. 54.79. The total number of shares traded during the day was 671 in over 6 trades.

The stock hit an intraday high of Rs. 57.50 and intraday low of 55.03. The net turnover during the day was Rs. 38356.00.

Source : Equity Bulls

Keywords

NakodaGroupofIndustries INE236Y01012 FundRaising RightsIssue