Stock Report

Veerhealth Care Limited board approves expansion plan, rights issue



Posted On : 2024-02-20 16:51:18( TIMEZONE : IST )

Veerhealth Care Limited board approves expansion plan, rights issue

The Board of Directors of Veerhealth Care Limited at its meeting held today, i. e. 20th February, 2024, has approved the expansion project and estimated project cost for expansion will be Rs. 33 Crores, including purchase of Land, Construction of Building, Plant & Machinery and other Infrastructure.

Out of Rs. 33 Crores, Rs. 8 Crores to be raised from bank by way of borrowings.

The Board has decided to issue new 99,99,238 equity shares having face value of Rs. 10/- each at a premium of Rs. 15/- per share by way of Rights Issue to the existing shareholders of the Company at an issue price of Rs. 25/- per equity share in the ratio of 1:2 i.e. 1 (one) new Right Share for every 2 (two) existing Equity Shares held by the eligible shareholders.

Shares of Veerhealth Care Limited was last trading in BSE at Rs. 22.51 as compared to the previous close of Rs. 22.03. The total number of shares traded during the day was 520580 in over 419 trades.

The stock hit an intraday high of Rs. 23.14 and intraday low of 21.52. The net turnover during the day was Rs. 11610619.00.

Source : Equity Bulls

Keywords

VeerhealthCare INE882C01035 Pharmaceuticals Expansion RightsIssue FundRaising