Skipper Ltd on Monday said its board has approved a proposal to raise about Rs 199 crore through equity rights issue on partly-paid basis.
In a regulatory filing, the company said the board has approved the rights issue of 1,02,67,021 equity shares having a face value of Rs 1 each to eligible shareholders on a partly-paid basis for an amount aggregating to Rs 1,991.80 million (Rs 199.18 crore).
The issue price of Rs 194 apiece includes a premium of Rs 193 per share.
The company has set January 12 as the record date for the rights issue.
Kolkata-based Skipper is one of the leading companies in the power transmission and distribution and polymer segment.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
