This is further to our intimation dated November 11, 2022, the Board of Directors of our Company, at their meeting held today, i.e. November 17, 2022 (Commencement time 6:30 PM and Conclusion time 7:15 PM) have considered and approved inter alia the following terms of the Rights Issue:
1. Rights Issue Size and Price: Approved the issue of 8,67,189 equity shares of face value of Rs. 10 each, for an aggregate amount not exceeding Rs. 607.03 lakhs
2. Rights Entitlement Ratio: 1 (One) Right Equity Shares for every 5 (five) Existing Equity Shares held by the eligible shareholders as on the record date.
3. Fractional Entitlement: The Rights Equity Shares are being offered on a rights basis to existing Eligible Equity Shareholders in the ratio of One (1) Rights Equity Shares for every Five (5) Equity Shares held as on the Record Date. As per SEBI Rights Issue Circular, the fractional entitlements are to be ignored.
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