Spencer's Retail Ltd board fixes July 29, 2020 as record date for rights issue

The Board of Directors of Spencer's Retail Limited held on February 11, 2020, approved the issue of equity shares of the Company by way of a rights issue to eligible shareholders of the Company as on the record date for an amount not exceeding Rs. 8,000. ("Rights Issue")

The Rights Issue Committee of the Board of Directors of the Company has today approved the following terms of the rights issue:

Instrument: Fully paid up equity shares of face value of Rs. 5 each ("Rights Equity Shares")

Issue Size and Price: 1,06,04,563 Rights Equity Shares of Rs.5 each at an issue price of Rs.75 per Equity Share (including a premium of Rs. 70 per Equity Share)

Rights Entitlement Ratio: 2 Rights Equity Shares for every 15 Equity Shares held by the eligible shareholders of the Company on the record date.

Record Date: The Rights Issue Committee of Board of Directors of the Company also fixed the record date for the purpose of determining the shareholders who will be eligible to apply for the Issue as July 29, 2020.

ISIN for Rights Entitlement: INE020820010

The Rights Issue Committee of the Board of Directors also approved the following schedule for the Issue:

Issue Opening Date: August, 4, 2020; and
Issue Closing Date: August, 18, 2020.

Shares of Spencers Retail Ltd was last trading in BSE at Rs.86.6 as compared to the previous close of Rs. 90.95. The total number of shares traded during the day was 149961 in over 2446 trades.

The stock hit an intraday high of Rs. 91 and intraday low of 85.95. The net turnover during the day was Rs. 13168109.

Source : Equity Bulls

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