Shraddha Prime Projects Limited, a small-cap business with a market worth of ₹7 Cr, focuses on the real estate sector. Shraddha Prime Projects Ltd. is a renowned real estate developer in Mumbai. The Shraddha Prime Projects Limited board of directors has approved a rights issue, which should be disclosed to current shareholders and prospective purchasers.
The company has said in a stock exchange filing that “In furtherance to our intimation dated 06th October, 2022 and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”) this is to inform you that the Board of Directors (“Board”) of Shraddha Prime Projects Limited (“Company”), in its meeting today, viz. Tuesday, 11th October, 2022 considered and approved the following: –
1. Fund raising of an amount not exceeding Rs. 49,90,00,000/- (Rupees Forty Nine Crore and Ninety Lacs only), through a Rights issue to the eligible equity shareholders of the Company as on Record date (to be notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, SEBI Listing Regulations, along with relevant circulars issued by the Securities and Exchange Board of India, Companies Act, 2013. (“Rights Issue”). 2. Constitution of the Rights issue Committee to proceed with the Rights issue and, inter-alia, decide the other terms and conditions of the Rights Issue, including deciding on the record date, determining the rights issue price, rights entitlement ratio, appointment of intermediaries and other related matters.”
Shraddha Prime Projects Limited’s latest reported trading price was ₹17.40 on October 10, 2022. In contrast to the 20-Day average volume of 456 shares, the stock’s most recent trading session had a total volume of 400 shares. The stock has produced a multibagger return of 201.56% over the past five years, and it has increased by 53.98% during the past year. The stock has up 33.13% YTD so far in 2022. The corporation reported a promoter ownership of 75.44% for the quarter that ended in June 2022 and a public stake of 24.56%.
