with market valuation of 14 Crore, Maharashtra Corporation Limited is a small-cap company operating in the financial services sector. The company is involved in the business of investing, trading and distributing various textile products. The Company announced that in its meeting of the Board of Directors on December 13, 2021, it was recommended to issue equity shares of the Company with a face value of Rs. 1 each by way of rights issue for an aggregate amount not exceeding Rs. 49.90 crore, was approved in its board meeting on June 15, 2022. The rights issue size announced by the company is 49,62,22,210 equity shares of face value 1.00/- each will not exceed 49,62,22,210 only. As per the Company’s announcement, the eligible shareholders are entitled to 11 Rights Equity Shares for every 3 fully paid-up equity shares as on the record date.
In its exchange filing, Maharashtra Corporation has said, “This is in relation to our notice dated June 15, 2022, provided under Regulation 29 of the Securities and Exchange Board of India (Listing and Disclosure Requirement) Regulations, 2015. Maharashtra The meeting of the Board of Directors (“Board of Directors”) of the Corporation Limited (“Company”) was held on 23rd June, 2022 in accordance with Regulation 42 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, Securities of India And in accordance with the amended and Regulation 68 of the Board of Exchange (Issue of Capital and Disclosure Requirements) Regulations, 2018, the Board of Directors in its meeting held today i.e. 23rd June, 2022 has determined Friday the 08th July, 2022, as Friday Record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue (“record date”).
Maharashtra Corporation shares jump 0.41 on 25 June 2021. up to the current market price of 1.05 as of June 24, 2022, 3:30 PM IST, which represents a multibagger profit of 156.10 percent in 1 year. However, on a year-on-year (YTD) basis, the stock has fallen 24.46 per cent so far in 2022. The stock has lost 5.41 per cent, 21.64 per cent and 10.26 per cent in the last six months. during the last five trading days. Maharashtra Corporation is trading lower with 5 Day, 20 Day, 50 Day, 100 Day and 200 Day Moving Average as per current market price.