Spectrum Foods Ltd approves draft offer letter for proposed rights issue

The board of directors of Spectrum Foods Ltd have approved the Draft Letter of Offer for the Proposed Rights Issue. The draft Letter of Offer is to be filed with the BSE Limited for in-principle approval.

The company is proposing to issue equity shares by way of rights issue to the existing shareholders of the company as on record date (to be notified later) for an amount not exceeding Rs. 40,00,00,000/- (Rupees Forty Crore Only), in accordance with the applicable Securiti es and Exchange Board of India Regulations and other applicable laws (the "Rights Issue").

Shares of SPECTRUM FOODS LTD. was last trading in BSE at Rs. 49.06 as compared to the previous close of Rs. 50.39. The total number of shares traded during the day was 56184 in over 172 trades.

The stock hit an intraday high of Rs. 51.40 and intraday low of 48.66. The net turnover during the day was Rs. 2764638.00.

Source : Equity Bulls

Keywords

SPECTRUMFOODS INE547C01018 FundRaising RightsIssue DraftOfferLetter