Mayukh Dealtrade Limited, a Mumbai-based manufacturer listed on the BSE (BSE: 539519), is set to raise up to Rs. 49 crore through a Rights Issue approved by its Board of Directors. The initiative, aimed at enhancing capital, will involve issuing equity shares to eligible shareholders on August 30, 2024.
In a move to improve liquidity, the board also authorized a 5-for-1 stock split, converting one equity share with a face value of Rs. 5 into five shares with a face value of Rs. 1. Furthermore, the board discussed increasing the authorized share capital from Rs. 30 crore to Rs. 63 crore, contingent on shareholder approval.
The company recently reported robust financial growth, with a net profit surge of 328% in Q1 FY25, reaching Rs. 33.77 lakh, compared to Rs. 7.90 lakh in the same quarter last year. Net sales rose 18.6% to Rs. 69.59 lakh. Mr. Mit Brahmbhatt, Managing Director, expressed enthusiasm about the results, stating, “Our team’s performance aligns with our growth plans, and we are committed to strengthening our market position.” The company is also considering a name change to “Sattva Sukun Lifecare Limited,” pending approval at the upcoming AGM.
