The board of directors of Sobha have approved the offer and issuance of equity shares of the company for an amount up to Rs 2,000 crore by way of a rights issue, the company said in a BSE filing.
The board approved 12,107,981 Rights Equity Shares each on partly-paid basis for an amount up to Rs 2,000 crore and rights issue price of Rs 1,651 per Rights Equity Share.In January 2024, the company had informed that the board of directors of the company approved the proposal for issuance of equity shares of the company by way of rights issue to the eligible equity shareholders of the company.
Rights Issue’s opening date is June 28, 2024 and closing date is July 4, 2024.
The company said six rights equity shares will be issued for every 47 fully paid-up equity shares of the company held by the eligible equity shareholders.
