Ahluwalia Contracts gets Board nod for Rs 50-cr rights issue
Leading civil contractor Ahluwalia Contracts (India) today said its Board has approved a rights issue of up to Rs 50 crore.
By PTI | Updated:
NEW DELHI: Leading civil contractor Ahluwalia Contracts (India) today said its Board has approved a rights issue of up to Rs 50 crore.
In a stock exchange filing, the company said its Board has approved the "issue of equity shares of the face value of Rs 2 each of the company to the existing equity shareholders on a rights basis aggregating upto Rs 50 crores (including premium)..."
It also called an extra-ordinary general meeting of the shareholders on December 9 for their nod for the issue, which is also subject to statutory and regulatory approvals.
The Board, it said, has also approved the formation of rights issue committee to execute and look after all the activities relating to the issue of further shares of the company.
Shares of the company today settled at Rs 28.15 apiece, up 1.26 per cent over the previous closing, in BSE.
In a stock exchange filing, the company said its Board has approved the "issue of equity shares of the face value of Rs 2 each of the company to the existing equity shareholders on a rights basis aggregating upto Rs 50 crores (including premium)..."
It also called an extra-ordinary general meeting of the shareholders on December 9 for their nod for the issue, which is also subject to statutory and regulatory approvals.
The Board, it said, has also approved the formation of rights issue committee to execute and look after all the activities relating to the issue of further shares of the company.
Shares of the company today settled at Rs 28.15 apiece, up 1.26 per cent over the previous closing, in BSE.
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