Nakoda group announces right issue worth Rs33.50 crore; stock climbs 2%

28 Mar 2022 , 03:02 PM

The members of the Right Issue Committee of Nakoda Group of Industries Limited have approved a rights issue. The company has agreed to a right issue size of 27,83,625 equity shares at a price of Rs120 each. The share premium will be Rs110 each for a share of the face value of Rs10 each.

Rights ratio has been decided as One new Equity Share for every 4 (Four) existing shares held by the eligible shareholders as on the Record Date.

The committee has decided and fixed Rs33,40,35,000 as the Right Issue Size. 

The record date for the purpose of determining the eligibility of the equity shareholder Who is entitled to receive the Right Issue Entitlement in the Right Issue is revised and the Final Record Date shall be Friday, April 1, 2022.

Nakoda Group was trading at Rs224.50, up by 2.12% against its previous close of Rs219.85. It touched an intraday high and low of Rs227.55 and Rs219.10 respectively.