Outcome of the Board Meeting for the Approval of Draft Letter of Offer for the proposed Rights Issue
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The board of directors of Scoobee Day Garments (India) Limited, at its meeting held on May 8, 2025, approved the Draft Letter of Offer for the company's proposed Rights Issue. The draft will be filed with BSE for in-principle approval to list the rights equity shares. The board meeting ran from 11:00 am to 12:30 pm. The filing has been made under Regulation 30 of SEBI LODR Regulations. The purpose or size of the rights issue and use of proceeds have not been disclosed in this filing.
Existing shareholders may be eligible to subscribe to additional shares in proportion to their current holdings, which could dilute non-participating shareholders. The actual size, price, and ratio of the rights issue are yet to be announced.