Thursday, 18 July 2024
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Asit C. Mehta board will discuss the issue of rights

  • Asit C. Mehta Financial Services Ltd. board will review and approve the proposal for issuing new shares.
  • A plan to issue rights to its Indian stock market bourses has been announced by Asit C. Mehta.
  • After 13 years, this would be the company’s first significant corporate event.

The Asit C. Mehta Financial Services Ltd. board of directors will review and approve the proposal for issuing new shares through a rights issue.

The proposal was already disclosed to Indian stock market bourses along with the schedule of board meetings, according to the financial.

Asit C. Mehta

A plan to issue rights to its Indian stock market bourses has been announced by Asit C. Mehta. December 1, 2023, is the planned meeting date for the Board of Directors of the company, wherein the decisions made by the Rights Issue Committee on December 4, 2023, will be discussed and approved.

Various issues surrounding the rights issue, such as the cost, mode of payment, dimensions, ratio of rights entitlement, date of record, and duration of issue, will be deliberated upon and decided upon by the committee.

After 13 years, this would be the company’s first significant corporate event.The shares of the company were available to eligible shareholders ex-dividend for ₹0.50 per share in 2010. This marks the beginning of the company’s dividend history.

After a lapse of nearly seven years, the stock traded ex-dividend for Re 1 per share in 2008. After nearly 13 years of trading ex-dividends, the rights issue proposal would be Asit C. Mehta’s first significant corporate event.

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