The following terms and conditions of the Rights Issue:
Total number of Rights Equity Shares and Rights Issue size: 4,27,050 Rights Equity Shares of ₹ 10 each at an issue price of ₹ 936/- aggregating up-to ₹ 39,97,18,800/-.
Issue Price: ₹ 936
Issue period:
a. Issue Opening Date: April 17, 2023
b. Issue Closing Date: April 25, 2023
Rights entitlement ratio: 1:8
Record Date: Tuesday, April 04, 2023
Sharp fall in price occurred after announcement. At Current price ₹ 1028 after dilution of 1:8 the new price will be ₹ 913 which is lower than the issue price. Promoter has 83.66% holding so he will most probably not participate in the issue. If the issue price is not changed I don’t see how it will get subscribed.
| Subscribe To Our Free Newsletter |
