Rajapalayam Mills Ltd has informed the stock exchange that the Board of Directors has considered and approved fundraising aggregating up to Rs 60 crore.
In a regulatory filing, the company informed that the fundraising option by the issue of equity shares of the face value of Rs 10 each on a rights basis to all existing equity shareholders of the company as on record date (to be notified later) and on such terms and conditions as may be decided by the Board or Rights Issue Committee thereof (“Rights Issue”) subject to requisite approvals from the statutory, regulatory and other authorities, as applicable.
