At meeting held on 27 July 2017
Wintac announced that the Board of Directors of the Company have at their meeting held on 27 July 2017, has considered and approved the proposal, subject to all necessary approvals, for issue of 66,82,828 Equity Shares on Rights basis to the existing shareholders of the company in the ratio of 3 : 2 i.e., 2 (two) shares for every 3 (three) shares held at a price of Rs. 100/- per share (Rs.10 face value + Rs. 90 premium per share) aggregating to Rs. 66.83 crores. The funds raised would be utilised to meet the capital expenditure on construction of New Manufacturing Facility and other corporate funds requirements and also to augment the long term working capital of the Company. If the Rights Issue is fully subscribed, the Company may not avail the ECB which was earlier proposed to part finance the project.Powered by Capital Market - Live News
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