Seacoast Shipping Services board approves 1:1 rights issue; Stock up 5%

19 Aug 2022 , 10:36 AM

The Board of Directors of Seacoast Shipping Services Limited has approved the right issue on the basis of 1:1 and subject to the increase authorized share capital of the Company as mentioned below. The terms of Right Issue will be decided on next Board Meeting.

The Board of Directors has recommended increase authorized share capital of the company from Rs33,66,75,000/- (Rupee Thirty-Three Crores Sixty-Six Lakhs Seventy-Five Thousand Only) divided into 33,66,75,000 equity share of Rs1/- (Rupee One Only) each to Rs68,00,00,000/- (Rupee Sixty-Eight Crore Only) divided into 68,00,00,000 equity share of Rs1/- (Rupee One Only) each subject to approval of shareholder in General Meeting.

At around 10:36 AM, Seacoast Shipping was trading at Rs3.67 per share higher by 4.86% as against previous closing of Rs3.50 per share on the BSE.