Thangamayil Jewellery shares rose more than 2% in morning trade after the board approved a fund raise of Rs 600 crore via Rights Issue.
In the exchange filing, the company shared, “Raising of funds by way of issue of equity shares of the Company of face value Rs.10.00/- each through “Rights Issue” for an amount not exceeding Rs.600 Crores to the eligible equity shareholders of the Company as on the record date (to be determined by the ‘Rights Issue Committee’ of the Board in due course) subject to receipt of statutory / regulatory approvals, as may be applicable in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosures Requirements) Regulations, 2018 and other applicable laws.”
As of 9:29 am, Thangamayil Jewellery were trading 0.57% higher at Rs 2,350.00 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
