Engineering company Falcon Technoprojects India Ltd on Tuesday said it will raise ₹21.43 crore through a rights issue, which will open for subscription next month.
Falcon TechnoProjects to Raise ₹21.4 Cr Through Rights Issue
The rights issue will open on April 7 and close on April 16, the Mumbai-based company said in a statement, adding that it has received in-principle approval from NSE Emerge for the rights issue.
Falcon TechnoProjects to Raise ₹21.4 Cr Through Rights Issue
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The rights issue will open on April 7 and close on April 16, the Mumbai-based company said in a statement, adding that it has received in-principle approval from NSE Emerge for the rights issue.
The company is offering up to 2.14 crore equity shares at an issue price of ₹10 per share, aggregating up to ₹21.43 crore to existing eligible shareholders in the ratio of 4:1 -- four rights equity share for every one share held by shareholders.
Mumbai-based engineering company, which provides integrated solutions such as mechanical, solar rooftop PV installation, gate automation and solar water heating, will use the proceeds for meeting working capital requirements.