Stock Report

Vinny Overseas Ltd board approves fund raising through rights issue



Posted On : 2023-09-26 16:57:22( TIMEZONE : IST )

Vinny Overseas Ltd board approves fund raising through rights issue

The Board of Directors of Vinny Overseas Ltd in its meeting held today Tuesday, September 26, 2023, at its registered office has, considered, approved and recommended an increase in authorised share capital from Rs. 25,00,00,000 (Rupees twenty-five crore only) to Rs. 50,00,00,000 (Rupees fifty crore only) subject to approval of members at the general meeting.

The board considered, approved and recommended an alteration in the capital clause of the Memorandum of Association subject to approval of members at the general meeting.

The board also considered and approved raising funds through Rights Issue of Equity Shares up to 23,26,23,311 Equity Shares of Face value of Rs. 1/- each in the ratio of 1:1 ie. (One) 1 Equity Shares for each (One) 1 Equity Shares held by Shareholders at an issue price of Rs. 2/- per Equity Share (including premium of Rs. 1/- per Equity Share) - aggregating to Rs. 46,52,46,622 to all the existing members of the Company on rights basis ("Rights Issue").

Source : Equity Bulls

Keywords

VinnyOverseas FundRaising RightsIssue