Vaxfab Enterprises Limited's - Rights issue subscribed by 113%

Ahmedabad, February 10th, 2023: Vaxfab Enterprises Limited (formerly known as Ellora Trading Limited) - a BSE listed Company, Agriculture & textile trading Company in India, stated that Rs 1,296 lakhs rights issue was oversubscribed by receiving bids for more than 82 lakh shares resulting in subscription of 113 percent. The rights issue of fully paid equity shares closed successfully on Friday. The issue was for cash at a price of Rs 18, including a premium of Rs 8 per rights equity share, aggregating up to Rs 1,296 lakhs. The issue period was from January 18, 2023.

The applications received in the Rights Issue are subject to verification and clearing of payments, as applicable, and finalization of the basis of allotment.

The allotment of equity shares will take place on February 17, 2023. The rights shares are expected to be listed on BSE around February 23, 2023

Commenting on the success of the Rights Issue, the Company, said, "We at Vaxfab, are grateful by the response, as this will not only assist us in achieving our objectives, but also accelerate our strategic initiatives, such as growing our reach, driving the Company and will also allow us to more aggressively seize the growth possibilities that lie ahead."

About Vaxfab Enterprises Limited:

Vaxfab Enterprises Limited (Formerly known as Ellora Trading Limited) was incorporated on 9th February 1983 under the Indian Companies Act 1956 in West Bengal and obtained certificate of commencement of business on 19th February 1983. The Company is new in this business of trading of Agriculture Products and has newly commenced its operations in the segment of trading of Textile Products and Clothing. All the verticals are housed under a single corporate entity. This has facilitated our diversification into new segments which in turn has helped us in serving a large number of customers across various sectors.

The business is divided into two separate yarn business verticals, consisting of: a) Agriculture; b) Textile and Clothing Trading verticals. This has facilitated the diversification into new segments which in turn has helped us in serving a large number of customers across various sectors.

No offer or solicitation: This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities.

For further information please visit our website: www.vaxfabenterprisesltd.in