The Board of Directors of Sharat Industries Ltd on January 18, 2022 in its Board meeting considered and approved the proposal to the issue the shares to the eligible shareholders of the Company on the Rights issue basis.
As per regulatory filing, the issue size shall be less than Rs50cr and the draft letter of offer was placed before the Board and the same was approved by the Board for filing the same with the BSE Limited, said Company.
Further the Board also approved for filing of forms, documents and returns with the BSE seeking the in-principal approval with the BSE for the proposed issue.
The meeting commenced at 12:00 PM and concluded at 04:00 PM.
At around 9:42 AM, Sharat Industries was trading at Rs71.60 per piece higher by Rs3.10 or 4.53% on the BSE market.
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