Sobha to consider terms of rights issue in board meeting today

Sobha rights issue news: Real estate developer Sobha's board is scheduled to meet today, June 12 to consider the terms of a rights issue. The counter closed at Rs 2,070, up 0.17 per cent on NSE.

"This is to inform that a meeting of the Board is scheduled to be held on Wednesday, June 12, 2024, in terms of the provisions of the Companies Act, 2013 read with Companies (Meetings of Board and its Powers) Rules, 2014, each as amended, inter-alia, to consider, discuss and decide various matters in connection with the Rights Issue, including the specific terms of the Rights Issue, such as the determination of the rights Issue price and related payment mechanism, rights entitlement ratio, the record date and timing of the Rights Issue," the company said in a regulatory filing dated June 8.

Sobha Q4 Results

Sobha posted an 86 per cent decline in consolidated net profit to Rs 7.02 crore for the quarter ended March 2024 on lower income. Total income also fell to Rs 791.25 crore in the fourth quarter from Rs 1,240.14 crore in the corresponding period of the previous year, according to a regulatory filing. Read more 

What does Sobha do?

Bengaluru-based Sobha Ltd is a real estate developer in the country with a significant presence in South India.

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