Sobha shares surge after board approves Rs 2,000 crore rights issue at Rs 1,651/share.
Sobha shares surge over 4% after board approves Rs 2,000 crore rights issue at Rs 1,651/share, with analysts predicting further upside to 2,350-2,500. The real estate company plans to issue 12,107,981 right shares, raising up to Rs 2,000 crore. The rights issue will open on June 28 and close on July 4. Sobha shares have delivered impressive returns, rallying over 110% year-to-date and surging 290% in the past year.
June 13, 2024
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