Som Distilleries -; Breweries extends rights issue closing date by 7 days; Stock gains ~2%

31 Jan 2022 , 09:28 AM

Som Distilleries & Breweries Ltd has informed to the exchanges regarding extension of last date for making application for the Rights Equity Shares of the Company.

As per regulatory filing, the Rights Issue of the Company has opened on Monday, January 17, 2022 and is slated to close on Monday, January 31, 2022 in terms of letter of offer dated December 27, 2021.

In this regard, “NSE and BSE Limited are hereby informed that in view of the intervening holidays and in order to provide a better opportunity to shareholders to exercise their rights in the Rights Issue, the Executive Legal and Borrowing Committee of Board of Directors in their meeting held on January 30, 2022 has decided to extend the last date for making an application for the Rights Equity Shares of the Company by seven days i.e., from Monday, January 31, 2022 to Monday, February 7, 2022”, said Company.

Further, the said extension period as stated above is within the applicable provisions of Securities and Exchange Board of India Regulations, 2018 and Companies Act, 2013 and does not lead to the issue period being open in excess of thirty (30) days inclusive of the Issue Opening Date, the company further added.

At around 9:30 AM, Som Distilleries & Breweries was trading at Rs44.95 apiece up by Rs0.8 or 1.81% against previous closing of Rs44.15 apiece on the BSE.