Osiajee Texfab board gives approval for rights issue; Stock gains over 2.5%

22 Jul 2022 , 09:16 AM

The Board of Directors of Osiajee Texfab Limited has approved the issuance of equity shares of Rs10/- (face value) each of the Company on rights basis to eligible equity shareholders of the Company as on the record date (which to be notified later).

Further, the Board has constituted and authorized a ‘Rights Issue Committee’ to decide detailed terms and conditions of the Issue and all other related matters etc.

“The Company will initiate the Rights Issue process after Shareholder’s approval for increase of authorized share capital of the Company to be considered at the ensuing annual general meeting of the Company”, said Osiajee Texfab.

On Friday early morning trade, Osiajee Texfab was trading at Rs64.45 per share higher by 2.63% as against previous closing of Rs62.80 per share on the BSE.