Syschem India Ltd approves 1:4 rights issue at Rs. 40 per share

The Board of directors of Syschem India Ltd has earlier approved the proposal for issuance of equity shares of face value of Rs. 10.00/- (Rupee Ten Only) for an amount not exceeding Rs. 31.90.00.000/- (Rupees Thirty One Crore Ninety Lakhs Only) through a Rights Issue, to the eligible equity sharcholders of the Company as on Record date.

The board has now approved issue of 79,72,600 Fully paid up equity shares of Rs. 10/- each at a price of Rs. 40.00 per Rights Equity Shares in the ratio of 1 (One) Equity Shares for every 4 (Four) Equity Shares held by shareholders as on Record Date aggregating to Rs 3189.04 Lakhs.

The "Record Date" for the purpose of determining the shareholders who shall be eligible to apply for the Right Issue, would be Friday, 29th September, 2023.

Right Issue Schedule

Right Issue Opening Date: Monday. 16th October, 2023*
Last Date for On Market Renunciation: Monday, 23rd October, 2023#
Right Issue Closing Date: Friday, 27th October, 2023%*

Shares of SYSCHEM (INDIA) LTD. was last trading in BSE at Rs. 58.76 as compared to the previous close of Rs. 58.10. The total number of shares traded during the day was 167110 in over 575 trades.

The stock hit an intraday high of Rs. 60.00 and intraday low of 58.20. The net turnover during the day was Rs. 9918479.00.

Source : Equity Bulls

Keywords

SYSCHEMINDIA INE121D01036 FundRaising RightsIssue