Announcement under Regulation 30 (LODR)- Raising of Funds
Awaiting price reaction for this filing.
The Board of Directors of Bluegod Entertainment Ltd has approved raising up to Rs. 33 Crores by issuing equity shares of face value Rs. 1 each on a rights basis to existing eligible shareholders. The price and entitlement ratio are yet to be decided by the Board or a newly constituted Rights Issue Committee, and the record date will be notified later. The company also approved increasing its authorised share capital from Rs. 56 Crores to Rs. 90 Crores, subject to shareholder approval via postal ballot. The Draft Letter of Offer and other relevant documents for the Rights Issue were also cleared for filing with BSE.
Existing shareholders will get the opportunity to subscribe to their proportionate share in the Rights Issue to maintain their holding, though the issue price and ratio are not yet disclosed. The dilution of equity and use of proceeds will be key factors to watch, as they could influence short-term share price sentiment.