Board approves Rights Issue to raise up to Rs 40 crore

Fund Raising View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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₹60.99

prior close

₹64.03

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%+4.3% vs market

Other Electrical Equipment peers, median of 47sector+0.2%+4.7% vs sector

On the reaction day the stock moved 4.3 pts more than Nifty Microcap 250 and 4.7 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Other Electrical Equipment peers, median of 47Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The board approved a Rights Issue of equity shares with face value of Rs 10 each to raise up to Rs 40 crore from existing shareholders. It also approved the Draft Letter of Offer and constituted a Rights Issue Committee. The record date and issue price will be notified later.

Likely market impact

Existing shareholders will get rights to subscribe; terms and record date awaited; may dilute holdings if not fully taken up.