with a market valuation of 59.86 Crore, Suditi Industries Limited is a small-cap company that operates in the consumer discretionary industry. The company is a fully integrated apparel manufacturer with a portfolio that includes retail, distribution, clothing manufacturing and apparel manufacturing. The company’s business range includes weaving, dyeing, printing, finishing and textiles. The company owns several brands, including YouWeCan, Nush, IndianInk, as well as authorized sports brands NBA, FC Barcelona and Manchester City FC. The Board of Directors of the company has declared.
Recently, the company in a regulatory filing stated that “With reference to our letter dated August 25, 2022, the Board of Directors in its meeting held today (i.e., Tuesday, August 30, 2022) considered the following decisions and Related to its issue: a) Rights issue price: Rs.30 per equity share, b) Rights entitlement ratio: 5 equity shares for every 9 equity shares held by the eligible equity shareholders of the company as on the record date, c) a) Number of Rights Equity Shares to be issued: 97,52,290 Rights Equity Shares for an aggregate amount up to Rs.29,25,68,700 (assuming full subscription and payment), d) Period of Issue: Date: Thursday, September 15, 2022; and Last date of issue: Wednesday, September 21, 2022.”
The Board of Directors of the Company further stated that “The record date for the purpose of determining the Equity Shareholders entitled to receive Rights Entitlement in the above issue is Tuesday, 6th September, 2022. The Company has made necessary arrangements with NSDL and CDSL. For credit of rights entitlement in dematerialized form to the demat account of eligible equity shareholders as on record date. The ISIN of such rights entitlement is INE691D20012. Rights entitlement of eligible equity shareholders as on record date, in respect of respective demat of eligible equity shareholders under the above ISIN will be credited to the account before the date of issue.”
On Friday, the shares of Suditi Industries Limited closed on 34.10 each, down 2.57% from the previous close 35. In the last 1 year, this penny stock has given multibagger returns of 109.85% and on YTD basis, the stock has grown by 45.42% so far in 2022. On BSE, the stock had touched a 52-week high. of 54.95 (28/02/2022) and 52-week low of At 13.90 (29/10/2021) it shows that the stock is trading below the 37.94% high and above the 145.32% low at the current market price.
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