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Rushil Decor preferential issue price declared

Oct 27, 2023

By: BlinkX Research Team

Rushil Decor Ltd.'s board of directors set the preferential issuance price at ₹297 for each equity share. At its Thursday board meeting, the company's board made this decision. It's interesting to note that, given that Rushil Decor shares are now trading at ₹342 a share on the NSE, the preferential issue price has been disclosed at a premium of about 14%. The small-cap firm has chosen to issue preferential shares in order to raise 124.74 crore fund.

The company also announced that the plan budget for the Gujarat green field project will climb to 90 crore from 60 crore. The extra sum will be derived from the net proceeds of the preferred issue fund raise of 124.74 crore.

Informing Indian stock market exchanges about the board meeting outcome, Rushil Decor said, "Pursuant to Regulation 30 of the SEBI Regulations, 2015, we hereby inform that the Board of Directors of the Company has, considered and approved in their meeting held today i.e., on Thursday, October 26,2023 the proposal for raising of funds for the Company through the issue of Convertible Warrants on preferential basis.”