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Business News/ Markets / Stock Markets/  Rushil Decor rights issue: Small-cap stock hits 20% upper circuit after fund raise move
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Rushil Decor rights issue: Small-cap stock hits 20% upper circuit after fund raise move

Rushil Decor rights issue: Small-cap company has fixed board meeting on 26th October 2023 to consider and approve fund raise proposal

Rushil Decor share price today opened upside and went on to hit intraday high of ₹349.60 apiece on NSE, locking-in 20% upper circuit during morning deals.Premium
Rushil Decor share price today opened upside and went on to hit intraday high of 349.60 apiece on NSE, locking-in 20% upper circuit during morning deals.

Rushil Decor rights issue: Shares of Rushil Decor is among the newsmaker stocks on Dalal Street. This small-cap stock with a market cap of around 928 crore is soon going to discuss and approve fund raise through rights issue. The small-cap company informed Indian stock market bourses that its board meeting has been fixed on 26th October 2023 to discuss and approve fund raise via rights issue.

After the spread of this stock market news, Rushil Decor share price opened with an upside gap and hit 20 per cent upper circuit within few minutes of stock market's opening bell today. Rushil Decor share price today opened higher at 294.75 apiece levels on NSE and went on to hit intraday high of 349.60 apiece levels, locking-in 20 per cent upper circuit.

Rushil Decor rights issue news

Rushil Decor Ltd informed Indian bourses about fund raise move citing, "This is to intimate that a meeting of the Board of Directors of the Company "Rushil Decor Limited" is scheduled to be held on Thursday, 26th day of October, 2023, inter alia to consider and approve the Raising of Funds by issue of Equity Shares, or any other financial instruments convertible into Equity Shares (including warrants, or otherwise) by way of Preferential Allotment or Private Placement or Qualified. Institutions Placement or Right Issue Basis or any combination thereof or any other method as may be permitted under applicable laws."

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"As informed earlier vide our letter No. RDL/061/2023-24 dated 29th September, 2023, the trading window for dealing in the securities of the Company is already closed for all insiders including Designated Persons of the Company from Sunday, October 1, 2023," the small-cap stock added.

In board meeting scheduled on 26th October 2023, Rushil Decor Ltd is expected to declare rights issue price and rights issue size.

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The small-cap stock is available for trade on both NSE and BSE and its market cap is around 928 crore. Its current trade volume on NSE is 19.23 lakh and near three hours of trade is still left during Thursday session. Its 52-week high is 447.40 apiece whereas its 52-week low is 204.31 per share.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 19 Oct 2023, 12:33 PM IST
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