Friday, December 2, 2022
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HomeMarketStocksSmallcap paper company to raise Rs 20 crore via rights issue

Smallcap paper company to raise Rs 20 crore via rights issue

Smallcap paper and paper products company will raise a total of Rs 20 crore via a rights issue.

“The board of directors considered and approved the following businesses, and the same is enclosed herewith: Raising of funds through issuance and allotment of equity shares having face value of Rs 10.00/- for an aggregate amount of up to Rs 20 crore on a right issue basis, on such terms and conditions as may be decided by the board of directors of our company to the eligible equity shareholders of the company, as on the record date (to be notified subsequently) subject to the receipt of applicable regulatory, statutory approvals, in accordance with various provisions of law,” said the company’s filing with exchanges.

Constitution of the “Right Issue Committee” to decide on the detailed terms and conditions of the Issue, the appointment of various intermediaries including but not limited to deciding the payment modalities/schedule thereof, record date, timings, other terms and conditions, and all other related matters, etc the company’s filing added.

Shree Ajit Pulp shares have been a laggard with a 1-year return of -9%. The stock, however, ended marginally higher on Friday at Rs 311 on the NSE.

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