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Stock Report
Texel Industries Ltd to open rights issue on Aug 31, 2021
Posted On : 2021-08-12 10:58:32( TIMEZONE : IST )
The Finance and Investment Committee of Directors of the Company, at its meeting held on today i.e. August 12, 2021, has approved the schedule of the Rights Issue:
Issue Opening Date - Tuesday, August 31, 2021
Last date for On Market Renunciation of Rights Entitlement - Wednesday, September 8, 2021
Issue Closing Date# Tuesday, September 14, 2021
The rights entitlement ratio for the proposed rights issue is in the ratio of 55 (Fifty Five) Rights Equity Shares of Rs. 10/- each for every 92 (Ninety Two) Equity Shares of Rs. 10/- each held by the equity shareholders of the Company as on the record date ("Eligible Equity Shareholders") with the right to renounce.
The company had earlier revised the Record date to Tuesday, August 17, 2021 (from Friday, August 13, 2021 as announced earlier) for the purpose of determining names of the shareholders of the Company eligible to apply for the Equity Shares in the proposed Rights Issue of the Company.
The ISIN of the Rights Entitlements is INE594V20010. The Rights Entitlements of Eligible Equity Shareholders as on record date shall be credited, prior to the issue opening date, in their respective demat accounts under the aforementioned ISIN.
The company plans to issue 31,22,398 partly paid-up Equity Shares of face value of Rs.10/- each at an issue price of Rs.40/- per Equity Share (including premium of Rs.30/- per Equity Share) for an amount aggregating up to Rs.1,248.96 lakhs to all the existing equity shareholders of the Company through this Rights Issue.
The Letter of Offer and Abridged Letter of Offer to be filed with BSE Limited and the Securities and Exchange Board of India and to be dispatched to the Eligible Equity Shareholders of the Company as on Record Date.
Shares of Texel Industries Ltd. was last trading in BSE at Rs. 78.05 as compared to the previous close of Rs. 78.15. The total number of shares traded during the day was 2276 in over 38 trades.
The stock hit an intraday high of Rs. 80 and intraday low of 72.6. The net turnover during the day was Rs. 171020.
