Rajapalayam Mills Limited announces 1:14 rights issue

The Rights Issue Committee of Rajapalayam Mills Limited has, at its meeting held today, approved the issue of 6,14,680 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. 3,497.53 lakhs to all the existing equity shareholders of the Company on a rights basis ("Rights Issue").

Friday, December 30, 2022 has been fixed 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").

Terms of Payment - The full amount of the Issue Price being Rs. 569/- will be payable on application

Rights Entitlement Ratio - 1 (One) Rights Equity Share of Rs. 10/- each for every 14 (Fourteen) 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.

Outstanding Equity Shares prior to the Rights Issue - 86,05,520 Equity Shares of Rs. 10/- each

Outstanding Equity Shares post rights issue - 92,20,200 Equity Shares of Rs. 10/- each Rights Issue (assuming full subscription).

Shares of RAJAPALAYAM MILLS LTD. was last trading in BSE at Rs. 727.45 as compared to the previous close of Rs. 734.05. The total number of shares traded during the day was 2888 in over 187 trades.

The stock hit an intraday high of Rs. 749.95 and intraday low of 725.00. The net turnover during the day was Rs. 2125545.00.

Source : Equity Bulls

Keywords

RAJAPALAYAMMILLS INE296E01026 Textiles FundRaising RightsIssue 1For14 RecordDate