Minda Industries sees a 5% spike in stock prices

The company saw a 5% rise in their stocks after they announced that they had raised Rs 242 crore by issuing rights to existing voters

Minda Industries, auto components manufacturing company, saw a 5% rise in their stocks after they announced that they had raised Rs 242 crore by issuing rights to existing voters.
This change came after Minda Industries said the following in a regulatory filing, “The rights issue committee of the board of the company has considered and approved the allotment of 97,11,739 equity shares of face value Rs 2 each to the eligible applicants in the rights issue at an issue price of Rs 250 per equity share (including a premium of Rs 248 per equity share).”