Shree Ajit Pulp and Paper to raise Rs20 crore through rights issue; Stock slips 2%

31 Oct 2022 , 10:48 AM

The Board of Directors of Shree Ajit Pulp and Paper Limited at its meeting held on October 28, 2022 considered and approved the raising of funds through issuance and allotment of equity shares having face value of Rs10.00/- (Equity Shares’) for an aggregate amount of up to Rs20,00,00,000/- (Rupees Twenty Crores Only) on right issue basis.

In a regulatory filing, the company said, “the board also approved constitution of “Right Issue Committee” to decide on the detailed terms and conditions of the Issue, the appointment of various intermediaries including but not limited to deciding the payment modalities/schedule thereof, record date, timings, other terms and conditions, and all other related matters, etc.”

At around 10:52 AM, Shree Ajit Pulp and Paper Ltd is currently trading at Rs305 per share down by Rs6 or 1.93% from its previous closing of Rs311 per share on the BSE.

The scrip opened at Rs311 per share and has touched a high and low of Rs312.50 per share and Rs300.25 per share respectively so far today.  The current market cap of the company is Rs166.59 crore.

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