Financial Daily from THE HINDU group of publications
Tuesday, Nov 29, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 29, 2005 |
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Info-Tech
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Software Markets - Rights Issue RS Software board okays 1:2 rights issue Our Bureau
Kolkata , Nov 28 THE board of directors of RS Software India Ltd met today and approved issue of rights shares in the ratio of one equity share for every two shares held. The company's board approved the issue of 24.59 lakh equity shares of Rs 10 each for cash at a premium not exceeding Rs 55 a share on rights basis to existing equity shareholders of the company. According to a communiqué received from the company, its board has also approved the issue of five lakh equity warrants on preferential basis to the promoters/promoter groups with each warrant convertible into one equity share of the company of the face value of Rs 10 at a price of Rs 87, which includes a premium of Rs 77 calculated in accordance with SEBI guidelines for preferential allotment of equity shares/warrants.
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