Rajapalayam Mills Ltd board approves rights issue of Rs. 70 crores
Posted On: 2020-12-21 00:01:21 (Time Zone: Arizona, USA)
The Board of Directors of Rajapalayam Mills Ltd has, at its meeting held today, considered and approved the fund raising by the Company for an amount aggregating up to Rs. 70 Crores by issue of equity shares of face value of Rs. 10/- each ( Equity Shares ) on a rights basis to all existing equity shareholders of the Company as on a record date (to be notified later) and on such terms and conditions as may be decided by the Board or committee thereof ( Rights Issue ) subject to requisite approvals from the statutory, regulatory and other authorities, as applicable.