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Last Updated : Mar 25, 2019 12:17 PM IST | Source: Moneycontrol.com

Bharat Gears surges 5% on rights issue approval

The board has fixed April 03, 2019 as record date for the purpose of determining the shareholders eligible to apply for rights issue.

Moneycontrol News @moneycontrolcom
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Shares of Bharat Gears added 5 percent intraday March 25 after the company said it is going to issue equity shares by way of rights issue.

The company board has approved to issue equity shares in the ratio of 1:7 on rights basis with an issue price is Rs 105 per share to the existing shareholders of the company, as per company's release on BSE.

The board has fixed April 03, 2019 as a record date for the purpose of determining the shareholders eligible to apply for the rights issue.

The issue includes 11,63,262 equity shares of Rs 10 each at a price of Rs 105 per rights equity share aggregating to Rs 12,21,42,510.

At 1116 hours, Bharat Gears was quoting at Rs 167.10, up Rs 1.70, or 1.03 percent on the BSE.

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First Published on Mar 25, 2019 12:17 pm
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