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Yarn Syndicate Ltd. — Capital/Financing Update 2024
Jan 23, 2024
58979_rns_2024-01-23_82051267-9c45-4fd5-8c0c-d097385edb37.pdf
Capital/Financing Update
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YARN SYNDICATE LIMITED
CIN: L51109WB1946PLC013842
Regd. Office: 86/2/4, S N Banerjee Road 1[st] Floor, Flat No. 2, Kolkata, West Bengal - 700 014
E-mail: [email protected]
Date : 23[rd ] January, 2024
To, BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001.
Dear Sir/ Madam,
Sub: Outcome of Board Meeting held today i.e., 23[rd] January, 2024 Ref: Security Id: YARNSYN/ Scrip Code: 514378
Pursuant to second proviso to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors in consultation with the Rights Issue Committee in their meeting held today i.e. 23[rd] January, 2024 at the Corporate Office of the Company situated at Shop No 128 Supemall-2 GH-0 Circle, Infocity, Gandhinagar – 382007, Gujarat, which commenced at 1:00 P.M. and concluded at 2:10 P.M. inter-alia has considered and approved issue of 1,80,00,000 Equity Shares of face value of Rs. 10.00/- each for cash at an Issue Price of Rs. 27.00/- per Equity Share aggregating upto Rs. 48,60,00,000/- to all the existing eligible Equity shareholders of the Company on Rights (‘Rights Issue’) . The brief term of Rights Issue is approved by the Board is attached herewith as Annexure – I.
Further, this announcement is submitted to the reference of Board meeting held on 29[th] September, 2023 and the link of the earlier announcement is https://www.bseindia.com/xmldata/corpfiling/AttachHis/7be9a7a5-a4e1-41c6-893a-3fc29770528c.pdf
Kindly consider the same and oblige us.
For, Yarn Syndicate Limited
RAVI Digitally signed by RAVI NIRANJAN NIRANJAN PANDYA Date: 2024.01.23 PANDYA 14:19:50 +05'30' Ravi Pandya Managing Director DIN: 09509086
YARN SYNDICATE LIMITED
CIN: L51109WB1946PLC013842
Regd. Office: 86/2/4, S N Banerjee Road 1[st] Floor, Flat No. 2, Kolkata, West Bengal - 700 014
E-mail: [email protected]
Annexure – I
| Annexure– I | ||
|---|---|---|
| **Sr. No. ** | Particulars | Details |
| 1. | Details of the securities | Equityshares of Rs. 10.00/- each |
| 2. | Type of issue | Rights issue of equityshares |
| 3. | Equity shares offered through the issue |
1,80,00,000 Equity Shares* |
| 4. | Face valueper equityshare | Rs. 10.00/-per share |
| 5. | Issue price perequity share | Rs. 27.00/-pershare |
| 6. | Right entitlement ratio | 24 Rights Equity share for every 5 fully paid-up Equity shares held by the Eligible Equity shareholders in the Company as on Record date |
| 7. | Outstanding equity shares before Right issue |
37,50,000 Equity shares of Rs. 10.00/- each |
| 8. | Outstanding equity shares post rights issue (assumingfullysubscription) |
2,17,50,000 Equity shares of Rs. 10.00/- each |
| 9. | Terms of Payment | Amount for Rights Equity Shares shall be payable by the eligible shareholders in the following manner: 1. Rs. 13.50/- at the time of application 2. Balance Rs. 13.50/- in 1stand Final call, as determined by our Board in consultation with the Rights Issue Committee |
* Equity shares which are offered through the rights issue are Maximum no. of shares that will be issued.
The detailed terms of the Rights Issue including the procedure for the Rights Issue will be specified in the Letter of Offer which will be sent by the Company to the Eligible Equity Shareholders holding Equity Shares of the Company as on the Record Date in due course.