Board approves Rights Issue of up to Rs 27 crore

Corporate Actions View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-0.1% vs market

Other Textile Products peers, median of 189sector-0.3%+0.3% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.3 pts more than its Other Textile Products 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 Textile Products peers, median of 189Pending

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

AI summary

Padam Cotton Yarns board approved a Rights Issue of equity shares (face value Re 1 each) to raise up to Rs 27 crore from existing eligible shareholders. Issue price and other terms will be decided later by the Board or a committee. Record date will be notified separately. The board also approved shifting the corporate office within Ahmedabad.

Likely market impact

Possible dilution for shareholders who do not subscribe. Rights issue price and terms not yet disclosed. Watch for further announcements.