Nitta Gelatin India, Coastal Corporation and Inventure Growth to consider rights issues today
Monday will see the consideration of rights offerings by the boards of three companies: Inventure Growth & Securities, Coastal Corporation, and Nitta Gelatin India. Later in the day, the board of Ashapura Minechem will discuss the warrant issue.
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The board meeting for Nitta Gelatin India will be held by video conference to discuss several matters, including a proposal to issue equity shares to current shareholders on a rights basis, as may be allowed under relevant legislation, subject to any necessary regulatory or statutory clearances.
Until 48 hours after the firm announces its unaudited financial results to the stock exchange for the quarter and nine months ended December 31, 2022, the trading window for dealing in its securities will be closed, the company stated in a filing on December 27.
Nitta Gelatin
In accordance with the letter of offer dated August 25, 2022, the board of the Coastal Corporation will meet in Visakhapatnam, Andhra Pradesh, to discuss a proposal to make a first call on 19,29,800 partially paid equity shares with a face value of Rs. 10 apiece.
Later today, the board of Inventure Growth will decide whether to raise the company’s authorized capital.
The company’s Memorandum & Articles of Association’s capital clauses will also be taken into consideration and approved.
If deemed appropriate, it would also talk about raising additional funds through a rights issue. Additionally, if advised by the board, the firm will evaluate and authorise transactions involving connected parties and ask its shareholders for their consent via postal ballot notice or special general meetings for the aforementioned items.
In the meantime, in the instance of Ashapura Minechem, the board of directors of the firm will discuss the preferential issuance of almost 40,40,000 warrants to the promoter group and/or associates of the Company, which would be converted into or exchanged for equity shares at a later date. The matter would require shareholder approval via a postal vote that would be held.
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