Healthy Life Agritec Limited’s Board of Directors has approved a rights issue to raise funds, proposing to issue partly paid-up equity shares with a face value of ₹10 each. The company aims to raise an amount not exceeding ₹5,000 Lakhs from eligible equity shareholders. The specific terms, including issue price and record date, will be determined subsequently, subject to regulatory approvals.
Fundraising Through Rights Issue
The Board of Directors of Healthy Life Agritec Limited has officially approved a strategic move to raise capital through a rights issue. This initiative will involve the issuance of partly paid-up equity shares, each with a face value of ₹10. The primary objective of this rights issue is to secure additional funding for the company’s growth and operational needs.
Key Details of the Rights Issue
The company plans to raise a significant sum, with the total amount not exceeding ₹5,000 Lakhs. This capital will be offered to eligible equity shareholders based on a record date, which is yet to be determined and will be notified at a later stage. The approval for this fundraising is contingent upon obtaining necessary statutory and regulatory approvals, including those under the SEBI ICDR Regulations.
Determination of Terms
A dedicated Rights Issue Committee has been formed to oversee the specifics of this issuance. This committee will be responsible for determining crucial terms such as the issue price, the rights entitlement ratio, the official record date, the timing of the rights issue, and the payment terms. These details will be finalized in compliance with applicable laws and subject to all required approvals.
Governance and Committee Members
The Rights Issue Committee comprises three members of the Board: Divya Mojjada as Chairperson, Mohammed Sadiq as a Member, and Apra Sharma as another Member. Their collective expertise will guide the successful execution of this fundraising initiative.
Source: BSE
