The Board of Directors of the Company have approved Rights issue of equity shares amounting to Rupees 80,00,00,000 (Rupees Eighty Crores only)
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The Board of Directors of Allcargo Terminals Limited has approved a Rights issue of equity shares aggregating to Rs. 80 crore. A rights issue allows existing shareholders to purchase additional shares in proportion to their current holdings, usually at a discounted price. The record date, issue price, and ratio for the rights entitlement have not been disclosed in this announcement and are expected to follow in a subsequent filing.
The Rs. 80 crore capital raise could lead to dilution of existing shareholders if they do not subscribe to their entitlement. The market may react based on the eventual issue price and the stated purpose of the funds, which are not yet disclosed.