The boards of three companies namely Nitta Gelatin India, Coastal Corporation, and Inventure Growth & Securities will consider rights issues on Monday. The board of Ashapura Minechem will consider the issue of warrants later in the day.
In the case of Nitta Gelatin India, the board meeting will be held via video conferencing to consider inter alia a proposal to issue equity shares to existing shareholders on a rights basis, as may be permitted under applicable law, subject to such regulatory/statutory approvals, as may be required.
"Trading Window for dealing in the securities of the company will be closed from Wednesday, 28th December 2022, till 48 hours after the announcement of the unaudited financial results of the company for the quarter and nine months ended 31st December 2022 to the stock exchange," the company said in a filing on December 27.
The Coastal Corporation board will meet in Visakhapatnam, Andhra Pradesh, to consider a proposal of the making of First Call on 19,29,800 partly paid equity shares of the face value of Rs. 10/- each issued by the company on a rights basis pursuant to the letter of offer dated August 25, 2022.
The board of Inventure Growth will consider increasing the authorised capital of the company later today.
It will also consider and approve alteration of capital clauses of the Memorandum & Articles of Association of the company.
It would also discuss, if thought fit, to raise further capital by way of the rights issue. Besides, the company will consider and approve related party transactions and seek approval of the members of the company for the above-referred items, if recommended by the board, by way of extraordinary general meetings or by postal ballot notice.
Meanwhile, in the case of Ashapura Minechem, the board of directors of the company will consider the issue of nearly 40,40,000 warrants on a preferential basis, which would be converted into or exchanged with equity shares at a later date, to the promoter group and/or associates of the Company. The issue would be subject to the approval of the shareholders by way of a postal ballot to be held in this regard.
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