Board of Minda Industries approves terms of rights issue

At meeting held on 11 August 2020

The Board of Minda Industries at its meeting held on 11 August 2020 has approved the following terms of the rights issue:

(a) Issue Price: Rs 250 per Equity Share (including a premium of< 248 per Equity Share over face value of Rs 2 per Equity Share);

Rights Entitlement Ratio: 1 fully paid-up Equity Shares for every 27 Equity Share held by eligible shareholders as on the record date;

(b) Total No. of Rights Equity Shares Proposed to be issued: 1,00,00,000 fully paid Equity Share of face value of INR 2 each for amount aggregating to Rs 250 crore;

( c) Record Date: the record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue as Monday, 17 August 2020("Record Date");

( d) Rights Issue schedule:
Issue opening date: Tuesday, 25 August 2020
Issue closing date: Tuesday, 08 September 2020;
Issue Period: Tuesday, August 25, 2020 to Tuesday, 08 September 2020 (both days inclusive) and
Last date for on market renunciation: Thursday, 03 September 2020.

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