Choice International stock tanks ~7% despite receiving approval for right issue plan

22 Feb 2022 , 03:43 PM

Choice International Limited informed that the company will be bringing the right issue for its investors.

It stated that on the Basis of Allotment finalized in consultation with the Lead Manager, the Registrar to the Rights issue and SSE limited, (the Designated Stock Exchange for the Rights issue), the Members of the Rights Issue Committee has, at in its meeting held today, i.e., February 22, 2022, approved the allotment of 99,51,200 Fully Paid-up Rights Equity Shares of the face value of Rs.lO/- each at a price of Rs. 51/- per Rights Equity Share (including premium of Rs. 41/- per Rights Equity Share) to the eligible applicants.

Choice International ended in the lower circuit today at Rs159.80, down by Rs11.90 or 6.93% against its previous closing price of Rs171.70. It touched the day’s high and low of Rs168.50 and Rs159.80 respctively.