Amal Limited has informed regarding approval for raising of funds by issue of equity Shares by way of a rights issue to the eligible equity shareholders of the Company.
Accordingly, the proposal of raising funds by issue of equity shares of face value of Rs10 each by way of a rights issue for an aggregate amount less than Rs50 crore to the eligible equity shareholders of the Company.
The board also approved constitution of a committee of the Board of Directors of the Company for the rights issue, namely Rights Issue Committee ("Committee") and authorised the Committee to do all such acts, deeds, things and matters, as it may in its absolute discretion deem necessary, proper and desirable for the purpose of and in connection with the rights issue, as per the filing.
At around 3:11 PM, Amal Ltd is currently trading at Rs323.95 per share down by Rs12.2 or 3.63% from its previous closing of Rs336.15 per share on the BSE.
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