Som Distilleries and Breweries Limited board approves 1:13 rights issue at Rs. 35 per share

The Board of Directors of Som Distilleries and Breweries Limited at its meeting held today, December 27, 2021 have, considered and approved the terms of the Rights Issue for upto 49,99,058 fully paid-up Equity Shares of Rs. 5/- each.

The rights issue ratio is One (1) Rights Equity Share(s) for every thirteen (13) fully paid-up Equity Share(s) held on the Record Date i.e., Monday, January 03, 2022.

The issue price of Rs. 35/- (Rupees Thirty-Five) [including a premium of Rs. 30/- (Rupees Thirty) per Equity Share] for every Equity Share of face value of Rs. 5/- (Rupees Five) each aggregates to issue size of Rs. 1749.67 Lakhs.

Monday, January 3, 2022 has been fixed as the record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders").

Full amount of Rs. 35/- (Rupees Thirty-Five) per Equity Share is payable on submission of the application by the Eligible Shareholder. The payment towards each Equity Share will be applied as under:

Rs. 5/ - (Rupees Five Only) per Equity Share towards share capital; and
Rs. 30/- (Rupees Thirty Only) per Equity Share towards securities premium

The schedule of the rights issue is as below:

Rights Issue Opening Date - Monday, January 17, 2022
Last Date for On Market Renunciation of Rights Entitlement - Tuesday, January 25, 2022
Rights Issue Closing Date** - Monday, January 31, 2022

Shares of Som Distilleries & Breweries Limited was last trading in BSE at Rs. 40.30 as compared to the previous close of Rs. 40.45. The total number of shares traded during the day was 20245 in over 317 trades.

The stock hit an intraday high of Rs. 41.15 and intraday low of 40.00. The net turnover during the day was Rs. 816352.00.

Source : Equity Bulls

Keywords

SomDistilleriesandBreweries INE480C01020 SDBL RightsIssue FundRaising