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Stock Report
Rajapalayam Mills Limited announces 1:6 rights issue at Rs. 569 per share
Posted On : 2021-02-27 15:09:44( TIMEZONE : IST )
The Rights Issue Committee of Rajapalayam Mills Limited has, at its meeting held today, approved the issue of 12,29,360 Equity Shares of face value of Rs. 10/- each at an issue price of Rs.569/- per Equity Share (including premium of Rs. 559/- per Equity Share) for an amount aggregating up to Rs. 6,995.06 Lakhs to all the existing equity shareholders of the Company on a rights basis ("Rights Issue").
Friday, March 5, 2021 as the record date for the purpose of determining names of shareholders of the Company eligible to apply for the Equity Shares in the Rights Issue of the Company ("Record Date"). The details of the rights issue is given below:
Number of shares to be issued - 12,29,360 Rights Equity Shares of face value of Rs. 10/- each for an amount aggregating upto Rs. 6,995.06 Lakhs (assuming full subscription).
Ratio of the rights issue: 1 (One) Rights Equity Share of Rs. 10/- each for every 6 (Six) Equity Shares of Rs.10/- each held by the equity shareholders in the Company as on the record date ("Eligible Equity Shareholders") with the right to renounce.
Issue Price - Rs. 569/- per Rights Equity Share (including premium of Rs. 559/- per Rights Equity Share). The full amount of the Issue Price being Rs. 569/- will be payable on application.
Record Date for rights issue - Friday, March 5, 2021.
Issue Opening Date - Monday, March 15, 2021
Last date for On Market Renunciation of the Rights Entitlements - Wednesday, March 24, 2021
Issue Closing Date - Tuesday, March 30, 2021
The ISIN of Rights Entitlements shares is INE296E20018.
The Outstanding Equity Shares prior to the Rights Issue is 73,76,160 Equity Shares of Rs. 10/- each. The Outstanding Equity Shares post Rights Issue (assuming full subscription) will be 86,05,520 Equity Shares of Rs.10/- each.
Shares of RAJAPALAYAM MILLS LTD. was last trading in BSE at Rs.760 as compared to the previous close of Rs. 751.2. The total number of shares traded during the day was 3326 in over 139 trades.
The stock hit an intraday high of Rs. 765.4 and intraday low of 741.6. The net turnover during the day was Rs. 2526560.
