Aditya Birla Fashion to consider terms of propose rights issue of Rs1,000cr on June 25

The board of directors of the company will meet on 25 June to consider and approve fundraising of Rs1,000cr by way of a Rights Issue of equity shares.

Jun 23, 2020 04:06 IST India Infoline News Service

Aditya Birla Fashion
Aditya Birla Fashion and Retail Ltd have informed BSE the board of directors of the company will meet on 25 June to consider and approve fundraising of Rs1,000cr by way of a Rights Issue of equity shares.

This is further to our intimation on the outcome of the meeting of the Board of Directors dated May 27, 2020, which approved fundraising of Rs1,000cr by way of a Rights Issue of equity shares, the company said.

The stock ended at Rs137.50, up by Rs4.45 or 3.34% from its previous closing of Rs133.05 on the BSE. The scrip opened at Rs134 and touched a high and low of Rs139 and Rs131.75 respectively.

“In connection to the above and pursuant to the above referred, please be informed that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, June 25, 2020, to consider, discuss and decide, inter alia various matters in connection with the Rights Issue, including the terms and conditions such as the instrument, issue price and related payment mechanism, rights entitlement ratio, record date, timing of the Rights Issue and other related matters,” the company said in a regulatory filing.

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