Rushil Decor rights issue: Following a fund raising action, small-cap stock rises by 20%

 Rushil Decor rights issue: Following a fund raising action, small-cap stock rises by 20%

Rushil Decor rights issue: On Dalal Street, shares of Rushil Decor are among the news-making securities. This small-cap business, which has a market worth of around 928 crore, will shortly consider and approve a rights issue capital raising. The small-cap firm told the Indian stock market exchanges that its board meeting, to debate and approve a cash raising via a rights issue, has been scheduled for October 26, 2023.

Following the dissemination of this stock market news, Rushil Decor's share price began with an upside gap and reached a 20% upper circuit within a short period of time today. Today's NSE opening price for Rushil Decor shares was higher at 294.75 per share. From there, the price rose to an intraday high of 349.60 per share, locking in a 20% upper circuit.

news about the rights to Rushil Decor

Rushil Decor Ltd informed Indian bourses concerning fund raise move citing, "This is to romantic that a meeting of the Board of Directors of the Company "Rushil Decor Limited" is expected to be grasped on Thursday, 26th day of October, 2023, among other things to consider and approve the Raising of Funds by issue of Equity Shares, or any other forms of financing convertible into Equity Shares (which incorporates warrants, or otherwise) by means such as Preferential Allotment or Private The procedure or Qualified. Institutions Placement or Right Issue The Foundation or any of those methods or any other form of fundraising as may be permitted under applicable laws."

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"As informed earlier vide our correspondence No. RDL/061/2023-24 dated 29th September, 2023, trade window for dealing in the securities of the organization is already closed for all insiders comprising Designated Persons of the Organization from Sunday, October 1, 2023," noted the small-cap company.

Rushil Decor Ltd is set to announce the pricing and amount of its rights offering at its board meeting on October 26, 2023.

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The small-cap stock, which has a market valuation of around 928 crore, is traded on both the NSE and the BSE. 19.23 lakh units had been traded as of this writing on the NSE, although the Thursday session is still just around three hours old. Its 52-week high per share is 447.40, while its 52-week low is 204.31.