Corporate News     25-Aug-09
Greenply Industries' committee approves rights issue
On 25 August 2009
The committee of Greenply Industries have considered the right issue of equity shares with detachable warrants on right basis in the ratio of 3 equity share for every 10 equity share of Rs 5 each for cash at a premium of Rs 85 per equity share aggregating to Rs 4589.31 lakh.

The issue price of Rs 90 for the equity shares will be payable on application. For every 10 equity to be allotted on rights basis, the allottee will receive 4 detachable warrants. The price at which the detachable warrant shall be exercised will be higher of floor price being Rs 90; or 75% of the average of the daily closing price of the equity shares of the company.

This was decided at the committee of directors meeting held on 25 August 2009.

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