Rushil Decor to raise Rs200 crore through rights issue; Stock skyrockets 14%

8 Aug 2022 , 09:19 AM

The Board of Directors of Rushil Decor Ltd at its meeting held on August 06, 2022 considered and approved the raising of fund by issuance and allotment of equity shares up to an amount not exceeding Rs200 crore (Rupees Two Hundred Crores Only) including premium, by way of issue of equity shares through rights issue in accordance with applicable laws.

As per the filing, the board also approved reconstitution of Fund-Raising Committee for finalizing the terms of the proposed issues, from time to time, and to appoint necessary professionals, experts, merchant bankers, legal advisors, other intermediaries for fund raising.

At around 9:19 AM, Rushil Decor was trading at Rs542.55 per share up by Rs68.05 or 14.34% from its previous closing of Rs474.50 per share on the BSE.

The scrip opened at Rs529.90 and has touched a high and low of Rs560 and Rs500 respectively so far today during early morning trade.