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Patel Engineering Ltd - Rights Issue Details

Posted On: 2019-09-14 14:13:52

Issue of 22,99,47,908 equity shares of face value of Re. 1 each, on a rights basis, ("Rights Equity Shares") not exceeding an amount of Rs. 2,070 million by the Company to the eligible equity shareholders.

Rights entitlement ratio: In the ratio of 7 Rights Equity Shares that an eligible equity shareholder is entitled to in proportion to 5 equity shares held by such eligible equity shareholder on the record date.

Fractional Entitlement: For Equity Shares being offered on a rights basis under the Issue, if the shareholding of any of the Eligible Equity Shareholders is less than 5 Equity Shares or is not in multiples of 5, the fractional entitlement of such Eligible Equity Shareholders shall be ignored for computation of the Rights Entitlement. However, Eligible Equity Shareholders whose fractional entitlements are being ignored earlier will be given preference in the Allotment of one additional Equity Share each, if such Eligible Equity Shareholders have applied for additional Equity Shares over and above their Rights Entitlement, if any.

Issue price: Rs.9/- per Rights Equity Share (including a premium of Rs.8/- per Rights Equity Share).

Record date: September 18, 2019;

Issue opening date: September 26, 2019;

Last date for receiving requests for SAFs: October 3, 2019;

Issue closing date: October 10, 2019

Shares of PATEL ENGINEERING LTD. was last trading in BSE at Rs.14.59 as compared to the previous close of Rs. 13.9. The total number of shares traded during the day was 48198 in over 76 trades.

The stock hit an intraday high of Rs. 14.59 and intraday low of 14.58. The net turnover during the day was Rs. 703108.

Source: Equity Bulls

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