This company finalises allotment of 9 lakh equities - Check details

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Smallcap institution Rushil Decor has finalised the allotment of 9 lakh equities upon warrant conversions station sub-division of the look value.

"The Fund raising committee of Board of Directors of the Company has considered and approved the allotment of 9,00,000 equity shares of look worth of Re 1 each, astatine a premium of Rs 28.70 per share... workout and conversion of 9,00,000 convertible warrants against receipt of the equilibrium subscription magnitude (i.e. 75% of the contented price) to the allottees," the filing.

Earlier, the institution said that it has acquired a manufacturing works successful Bengaluru and formed a associated task with its promoters to found Rushil Eco Ply Limited. According to the company, Rushil volition person a 51 per cent involvement successful the subsidiary - Rushil Eco Ply Limited.

The institution volition besides put astir Rs 20 crore successful the subsidiary which volition assistance Rushil grow its capableness for producing eco-friendly plywood.

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