Rodium readies rights issue

Realty major Rodium Realty Ltd on Tuesday said it has filed its draft letter of offer for a rights issue with capital market regulator Sebi.

Realty major Rodium Realty Ltd on Tuesday said it has filed its draft letter of offer for a rights issue with capital market regulator Sebi. As per the draft letter of offer, existing shareholders will be allotted two new equity shares for every three shares being held, by way of the rights issue.

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The funds raised will be used in ongoing and planned projects in Mumbai and for repayment of unsecured loans, the company, said.