89 (` lakhs) Note 10 Equity share capital As at March 31, 2023 As at March 31, 2022 Authorised 1,50,00,000 (March 31, 2022: 1,50,00,000) equity shares of ` 10 each 1,500.00 1,500.00 1,500.00 1,500.00 Issued and subscribed 1,23,62,662 (March 31, 2022: 94,25,000) equity shares of ` 10 each, fully-paid 1,236.27 942.50 1,236.27 942.50 a) Rights, preferences and restrictions: The Company has one class of shares referred to as equity shares having a par value of ` 10 each. i) Equity shares In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts and preference shares. The distribution will be in proportion to the number of equity shares held by the shareholders. Each holder of equity shares is entitled to one vote per share. ii) Preference shares The Company has authorised, issued and fully paid 0% redeemable and non-convertible cumulative preference shares of `10 each classified as liabilities. These shares do not carry voting rights. Further details are provided in Note 13. ii) Dividend The dividend proposed by the Board, if any, is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. b) Issue of shares under rights issue: On December 14, 2022, the Board of Directors of the Company approved the rights issue of equity shares. Subsequently the Right Issue Committee approved the rights issue of 29,37,662 equity shares of face value of ` 10 each at a price of ` 170 per share (including security premium of ` 160) in the ratio of 24:77, i.e. 24 new shares for 77 existing equity shares held by the eligible shareholders on record date, i.e. February 21, 2023. On March 23, 2023 the Committee has approved the allotment of 29,37,662 equity shares of face value of ` 10 each to the eligible shareholders. The entire proceeds received from the rights issue during the year amounting to ` 4994.03 lakhs were used for the objects stated in the offer document of the rights issue. Equity issue expenses of ` 56.87 lakhs has been adjusted against securities premium.
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