Penny Stock Below Rs 10 with 100 Per Cent Owned by Public Shareholders; Board Announces 15:2 Rights Issue of Shares
The stock is up by 68.44 per cent from its 52-week low of Rs 5.64 per share.
Bluegod Entertainment Limited (Formerly Known as Indra Industries Limited) will issue fully paid-up Equity Shares (Rights Equity Shares) through a Rights Issue. The total number of securities proposed to be issued is 4,85,78,025 Equity Shares of face value of Rs 10 each, for an aggregate amount of Rs 48,57,80,250. The Issue Price is set at Rs 10 per Equity Share, and the Record Date for determining eligible shareholders is Thursday, May 15, 2025.
The Right Issue period will commence on Friday, May 23rd, 2025, and the last date for on-market renunciation of Rights Entitlement is Monday, June 02nd, 2025. The Right Issue will close on Friday, June 06th, 2025. The Right entitlement Ratio is 15 (Fifteen) Equity Shares for every 2 (Two) Equity Shares held by eligible shareholders as of the record date, with the right to renounce. The outstanding Equity Shares prior to the Rights Issue are 64,77,070, and post the issue, they will be 55,05,50,95. This Rights Issue, for an aggregate amount not exceeding Rs 49,00,00,000, was initially approved by the Board of Directors on February 13th, 2025.
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Bluegod Entertainment Ltd, originally incorporated as Indra Industries Limited in 2010, underwent a significant transformation on September 5th, 2024, when it officially changed its name and shifted its core business from fertilisers and polymers to the dynamic realm of films and entertainment. This strategic pivot signals a new direction for the company, marking its entry into a vibrant and creative industry.
On Friday, shares of Bluegod Entertainment Ltd jumped 3.7 per cent to an intraday high of Rs 9.50 per share from its previous closing of Rs 9.16 per share. The company has a market cap of Rs 6 crore. The stock is up by 68.44 per cent from its 52-week low of Rs 5.64 per share.
Disclaimer: The article is for informational purposes only and not investment advice.