Minda Industries on Tuesday raised over ₹242 crore by way of a rights issue to existing investors. On June 29, the company’s board of directors approved issuance of equity shares by way of a rights issue for an aggregate amount not exceeding ₹250 crore. “The rights issue committee of the board of company have considered and approved the allotment of 97,11,739 equity shares of face value ₹2 each to the eligible applicants in the rights issue at an issue price of ₹250 per equity share (including a premium of ₹248 per equity share),” Minda Industries said.
Shares of Minda Industries were trading 0.13 per cent higher at ₹353.40 apiece on the BSE.