Skipper Gets Board Approval To Raise Rs 199 Crore Via Rights Issue

Skipper Ltd on Monday said its board has approved a proposal to raise about Rs 199 crore through equity rights issue on partly-paid basis.

In a regulatory filing, the company said the board has approved the rights issue of 1.02 crore equity shares having a face value of Rs 1 each to eligible shareholders on a partly-paid basis for an amount aggregating to Rs 1,991.80 million (Rs 199.18 crore).

The issue price of Rs 194 apiece includes a premium of Rs 193 per share.

The company has set Jan. 12 as the record date for the rights issue.

Kolkata-based Skipper is one of the leading companies in the power transmission and distribution and polymer segment.