The Company has considered and approved: The Draft Letter of Offer ("DLOF") for raising of funds by way of Right Issue of equity shares of the Company of face value Re. 1/- (Rupee One Only) ....
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The board of Tuni Textile Mills Ltd has approved the Draft Letter of Offer for a Rights Issue of equity shares with a face value of Re. 1 each. The total amount to be raised through this issue will not exceed Rs. 49 crore (including any premium). The issue price, rights entitlement ratio, record date, and payment terms have not yet been decided and will be finalised by the board later, subject to regulatory approvals. Existing eligible shareholders as on the record date will be entitled to participate in this fund-raising exercise.
Shareholders may face potential dilution depending on the issue size and price. Existing investors will get a chance to subscribe to their share in the rights issue, but the terms (especially whether priced at a discount) will determine how attractive this is. Watch for the final pricing and record date announcements.