Investment24 Mar 2026, 06:23 pm
Salem Erode Investments Ltd. Approves Rights Issue of Equity Shares worth ₹ 2,293.11 Lakhs
AI Summary
Salem Erode Investments Ltd. has approved the fund raise by way of offer and issuance of fully paid-up equity shares of the Company having a face value of ₹ 1/- each for an amount not exceeding ₹ 2,293.11 Lakhs by way of a rights issue to the eligible equity shareholders of the Company. The Rights Issue is subject to regulatory and statutory approvals as may be required under the applicable laws.
Key Highlights
- Salem Erode Investments Ltd. approved a Rights Issue of fully paid-up equity shares worth ₹ 2,293.11 Lakhs.
- The Rights Issue is subject to regulatory and statutory approvals as may be required under the applicable laws.
- The Rights Equity Shares will be issued to the eligible equity shareholders of the Company as on the record date.
- The Rights Issue is in accordance with the Companies Act, 2013, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, along with the relevant circulars issued by the SEBI.