The 361th board of directors meeting of the company held on May 16 decided to close the book for the issuance of 3,166,677.63 units of right shares worth Rs 316.6 million at a ratio of 1:0.46 to its existing shareholders.
SEBON approved the right issue on May 10.
After the issuance, the paid-up capital of the company will exceed Rs 1 billion as per the directive of IB. Prabhu Capital has been roped in to carry out the task of issue manager by the company.
Presently, the company has a paid-up capital of Rs 688.4 million which will reach Rs 1.50 billion after the right issue.
In the third quarter of the current FY, the company earned a net profit of Rs 180 million with EPS of Rs 37.50 and net worth per share of Rs 207.
