Pramara Promotions Limited — Others, 13-11-2024: Utilisation of Funds

The company has announced a board meeting to discuss a rights issue, aiming to raise ₹500 crore through an entitlement ratio of 1:4 at an issue price of ₹250 per share. The record date for eligibility will be provided soon. The proceeds from this rights issue are planned to be utilized for expanding operational capacities and strategic investments, which may enhance shareholder value in the long run. This offering could also strengthen the company's equity base, improving its financial position.