Basant Agro to raise capital

Mumbai, Mar 29 (UNI) Basant Agro Tech India Ltd will raise Rs 7.96 crore through a rights issue to be given on a 1:1 basis to existing shareholders.

A share of face value of Rs 10 would be given at a premium of Rs 15 according to a decision taken at the company's board meeting held yesterday, Basant Agro informed the Bombay Stock Exchange today.

The rights issue comprises of 31,85,100 equity shares.

The company would also raise 3.18 crore by issuing 31,85,100 non-tradable warrants to shareholders who will get one warrant for each share.

The warrant holders will be entitled to subscribe to one equity share at a price of Rs 30 within 18 months from the date of allottment of warrants.

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