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 Corporate - Rights Issue


Raasi Refractories plans rights

Our Bureau

HYDERABAD: Raasi Refractories Ltd has informed the stock exchanges that its shareholders have approved the proposal of issue of shares on rights basis in the ratio of 1:1.

The company plans to issue 39.42-lakh equity shares of Rs 10 each at a premium to be fixed in consultation with the lead managers.

The shareholders have also approved the proposal to increase the authorised capital from Rs 7.5-crore divided into 75-lakh equity shares of Rs 10 each to Rs 15-crore divided into 1.5-crore equity shares of Rs 10 each ranking pari passu with the existing equity shares and consequential alterations in memorandum and articles of association.

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Raasi Refractories plans rights

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