RPP Infra to offer 1.6cr equity shares in Rs48cr worth 'Rights Issue'; Stock ends 2% higher

The company will intimate about the schedule of the issue in due course.

Sep 14, 2021 04:09 IST India Infoline News Service

RPP Infra Projects
RPP Infra Projects has announced that the board of directors approved the offering of 1.6cr equity shares under the Rs48cr 'Rights Issue'.

The company has fixed Rs30 per equity share for the rights issue.

It said in a regulatory filing, "Up to 1,60,00,000 Rights Equity Shares of the face value of Rs10 each for cash at a price of Rs30 per Rights Equity Share aggregating up to an amount of Rs48cr."

The rights entitlement will be in the ratio of 3:5. Simply put, three Rights Equity Shares for every five fully paid-up Equity Shares held by the eligible equity shareholders of the Company on the Record Date.

The company will intimate about the schedule of the issue in due course.

On Sensex, RPP Infra closed at Rs82.95 per piece up 2%. 

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