Manjushree Extrusions Limited (Manjushree), a Bangalore based specialty plastics packaging company, is opening its Rights Issue today which will remain open for sub scri ption till 6th February, 2008. The Rights Issue consists of 42,10,800 Equity Shares of Rs.10 each for cash at a premium of Rs. 20 per share aggregating to Rs. 12.63 crores offered to the existing equity shareholders of the Company, in the ratio of one equity share for every one equity share as held on 24th December 2007 (the record date).
The Composite Application forms along with the offer document has already been dispatched to eligible shareholders of the Company. The money being raised through the issue is proposed to be utilized to part finance Company’s expansion cum diversification project which is presently under implementation.
Manjushree is currently listed on Ahmedabad, Calcutta, and Gauhati Stock Exchanges and now proposes to list the existing shares as well as the shares under the Issue on Bombay Stock Exchange as well, which is the Designated Stock Exchange.
