Rushil Decor Announces To Raise Rs 124.74 Cr Via 42,00,000 Warrants: Check Issue Price

On Friday, the shares of Rushil Decor opened higher on the BSE at Rs 339.05 apiece after the company announced 42,00,000 warrants of Rs 124.74 Cr.

In their meeting held on Thursday, October 26,2023 the proposal for raising of funds for the company through the issue of convertible warrants was approved by the Board of Directors of the company.

The Board of Directors considered and approved "To issue upto 42,00,000 warrants convertible into equity shares of face value of Rs 10/- to certain Non-Promoter and Promoter Group shareholders, on a-preferential basis in accordance with the Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended ('SEBI ICDR Regulations'), and other applicable laws, at an issue price of Rs 297/- (Rupees Two Hundred Ninety Sevur only) (including premium of Rs 287/-) per Warrant aggregating upto Rs 124,74,00,000/- (Rupees One Hundred Twenty Four Crores Seventy Four Lacs Only) on the terms and conditions i.e. 25% of the total consideration of the Warrants shall be payable at the time of application and the balance would be payable at the time of conversion of the Warrants into Equity Shares," said Rushil Decor in a stock exchange filing on Thursday.

The shares of Rushil Decor made a 52-week-high of Rs 429.71 (14/12/2022) and a 52-week-low of Rs 202.37 (29/03/2023) indicating that at the current market price, the stock is trading 20.17% below the 1 year high and 69.49% above the 1 year low. During Q2FY24, the company recorded promoters' shareholding of 56.39%, FIIs stake of 0.95%, and public stake of 42.65%.