Small-cap stock under ₹50 declares fundraising via rights issue. Details here
- Stock Market Today: Small-cap stock under ₹50,Vipul Ltd has announced its plans for fundraising via rights issue. Details here
Stock Market Today: Vipul, a small-cap stock trading under ₹50, has revealed plans to raise up to ₹49.75 crore through a rights issue. Despite market fluctuations, the company seeks to bolster its equity base, inviting existing shareholders to participate in this funding opportunity.
Vipul rights issue details
Vipul Ltd, on February 28, intimated the exchanges about the outcome of the meeting of the right issue committee of the company.
Vipul, in a release, said, "This is to inform you that the Right Issue Committee of the Company at their meeting held on Friday, February 28, 2025, has considered and approved the Draft Letter of Offer for raising of funds through issuance of fully paid-up equity shares of Rs. I each ("Equity Shares") to the eligible equity shareholders of the Company on a Rights basis as on record date, on such terms and at such price as may be decided by the Board (including Right Issue Committee) at a later date. The same as per Vipul Ltd subject to receipt of in-principle approval of BSE Limited (BSE) and National Stock Exchange of India Ltd (NSE), in accordance with the applicable laws including the provisions of the Securities and Exchange Board of India."
Issue and allotment of equity shares of face value of ₹1/- each by Vipul Ltd to the existing equity shareholders of the company on rights basis will be for an amount aggregating up to ₹49.75 crore.
Vipul Ltd share price on Monday opened at ₹11.13 on the BSE . The opening of Vipul Ltd share price was flat since the stock had closed at ₹11.13 on Friday. Vipul Ltd share price later witnessed a high of ₹11.58. However, it slipped to intraday low of ₹10.58 led by weakness in the stock market as Sensex corrected 400 points.
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