Stock Report

Mitsuchem Plast Ltd fixes Feb 17, 2024 as record date for rights issue

Posted On : 2024-02-13 22:11:54( TIMEZONE : IST )

The Right Issue and Allotment Committee of the Board of Directors of Mitsuchem Plast Ltd at their meeting held today, i.e., Tuesday, 13th February 2024, which commenced at 5:30 P.M. and ended at 7:30 P.M. have, considered and approved the following terms of the Rights Issue:

Instrument - Partly paid-up Equity Shares of face value of ₹ 10 each.

Rights Issue size - 15,09,075 Partly paid-up Equity Shares of ₹ 10/- each aggregating to an amount of ₹ 21,73,06,800* in total.

* Assuming Full Subscription and receipt of all Call Monies with respect to Rights Equity Shares.

Right Entitlement Ratio - 1 (One) Equity Share for every 8 (Eight) Fully Paid Equity Shares held by the Existing Shareholders on the record date

Fractional Entitlement - The Right Shares are being offered on a rights basis to existing Eligible Shareholders in the ratio of 1 Right Shares for every 8 Equity Shares (1:8) held as on the Record Date. As per SEBI Rights Issue Circulars, the fractional entitlements are to be ignored.

Rights Issue Price - ₹ 144/- per Rights Equity Share (including a premium of ₹ 134/- per Rights Equity Share). The amount of ₹ 72/- per Rights Equity Share (including premium of ₹ 67) to be paid on Application. Balance to be paid on one call, as may be decided by Board/ the Rights issue Committee of the Board.

Record date - Saturday, February 17, 2024, designated for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders")

Rights Issue period

Rights Issue Opening Date: Monday, February 26, 2024
Last Date For Market Renunciation: Monday, February 29, 2024
Rights Issue Closing Date: Monday, March 04, 2024

Shares of Mitsu Chem Plast Ltd was last trading in BSE at Rs. 184.50 as compared to the previous close of Rs. 192.30. The total number of shares traded during the day was 44545 in over 843 trades.

The stock hit an intraday high of Rs. 198.80 and intraday low of 177.95. The net turnover during the day was Rs. 8247445.00.