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Praxis Home Retail board allots over 4.35 cr rights equity shares; Stock gains 5%

The Board approved the allotment of 4,35,99,433 Rights Equity Shares of face value of Rs5 each.

October 13, 2021 10:05 IST | India Infoline News Service
Praxis Home Retail Ltd has informed that in terms of the Letter of Offer dated September 9, 2021 and in accordance with the Basis of Allotment finalized in consultation with BSE Limited the Company on October 12, 2021, approved the allotment of 4,35,99,433 Rights Equity Shares of face value of Rs5 each at a price of Rs11.35 per Rights Equity Share including a share premium of Rs6.35 per Rights Equity Share.

Consequent to the said allotment, the issued, subscribed and paid-up equity share capital of the Company shall be 7,53,13,330 equity shares (Rs. 37,65,66,650).

At around 10:04 AM, Praxis Home Retail was trading at Rs50.15 per piece higher by 4.92%, hitting 52-week high on Sensex.

Previously on Tuesday, the scrip ended at Rs47.80 per piece.

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The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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