Enbee Trade & Finance Ltd board approves rights issue

The board of directors of Enbee Trade & Finance Limited at their meeting held today, i.e. on Saturday January 06, 2024, have, discussed and approved the proposed fund raising by way of an issuance of equity shares of face value of ₹ 10/- each of the Company to its eligible equity shareholders on a rights basis ("Rights issue") for a value not exceeding ₹ 50 Crore, subject to receipt of necessary approvals from regulatory authorities, as applicable and in accordance with applicable provisions of the Companies Act, 2013, as amended, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws.

The Board of Directors have further authorised the 'Rights Issue Committee' to decide on the matters relating to Right Issue which includes, for approval of the Draft Letter of Offer, Letter of Offer along with any amendments, supplements, notices or corrigenda thereto, approval of pricing and terms of the equity shares, right entitlement ratio, date of on-market renunciation, the bid-issue opening and closing date, discount (if any) and all other related matters, including the determination of the minimum subscription for the issue, appointment of lead managers, Registrar and share transfer agents, legal counsel, advisors and other intermediaries in accordance with applicable laws.

Shares of ENBEE TRADE & FINANCE LTD. was last trading in BSE at Rs. 26.10 as compared to the previous close of Rs. 24.86. The total number of shares traded during the day was 810517 in over 1476 trades.

The stock hit an intraday high of Rs. 26.10 and intraday low of 25.36. The net turnover during the day was Rs. 21110103.00.

Source : Equity Bulls

Keywords

ENBEETRADEandFINANCE INE993I01011 FundRaising RightsIssue