Ahmedabad: Rs38.83 crore Rights issue of Gujarat based Franklin Industries Ltd, engaged in the trading of agriculture commodities and providers of contract farming services has opened for subscription on May 24, 2024.

The funds raised through the issue will be utilised to fund company’s expansion plans including working capital requirements and general corporate purposes. Right issue of the company are offered at a price of Rs3.58 per share as compared to closing share price of Rs7.50 per share on May 24, 2024. Rights Issue will close on June 11, 2024.

The company will issue 10,84,50,000 fully paid-up equity shares of the face value of Rs1 each for cash at a price of Rs3.58 per equity share (including a premium of Rs 2.58 per equity share) aggregating to Rs38.83 crore