Board approves rights issue of up to Rs 70 crore
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.2 pts less than Nifty Microcap 250 and 4.4 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Goyal Associates approved a rights issue of fully paid equity shares of Rs 1 each, of up to Rs 70 crore, for eligible shareholders. The record date and issue price are still to be notified. The board also noted director Vuppala Naga Malleswara Rao's resignation, effective October 16, and appointed Ajay Solanki to act as chief financial officer from October 25 after accepting Munige Radhika's resignation.
The rights issue may dilute existing holdings and require eligible shareholders to subscribe. Issue price and ratio are pending, so the stock impact is uncertain.