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).”
#Minda Industries stock climbs 5% after firm raises Rs 242 crore via rights issue https://t.co/ZxoaSdm43C
— Business Today (@business_today) September 15, 2020