Spectrum Foods Ltd fixes March 27, 2024 as record date for 4:1 rights issue

The Board of directors of Spectrum Foods Ltd have considered and approved the following terms-of the Rights Issue:

The board approved the issue of 1,93,93,544 Partly Paid-up Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 20/- per Equity Share (including a premium of Rs. 10/- per Equity Share) aggregating to Rs. 38,78,70,880 to all the existing equity shareholders of the Company on a rights basis ("Rights Issue").

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

b. Total number of Partly paid-up Equity Shares and Rights Issue size: 1,93,93,544 Partly paid-up Equity Shares of Rs. 10/- each aggregating to an amount of Rs. 38,78,70,880* in total. Considering the amount payable on Application (Rs. 10/- per Equity Share) the Rights Issue amount on Partly Paid Shares. *Assuming Full Subscription and receipt of all Call Monies with respect to Rights Equity Shares.

c. Right entitlement ratio: 4 (Four) Equity Share for every 1 (One) Fully Paid. Equity Shares held by the Existing Shareholders on the Record Date.

d. Rights Issue Price: Rs. 20/- per Rights Equity Share (including a premium of Rs. 10/- per Rights Equity Share). An amount of Rs. 10 per Rights Equity Share to be paid on Application and balance to be paid in one call as determined by our Board at its sole discretion from time to time.

e. Record date: Wednesday, March 27, 2024 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders")

f. Rights Issue Period:

Rights Issue Opening Date: Monday, April 08, 2024; and
Rights Issue Closing Date: Monday, April 22, 2024.

g. Outstanding Equity Shares:

Prior to the Rights Issue: 48,48,386 Equity Shares
Post Rights Issue: *1,93,93,544 Equity Shares

Shares of SPECTRUM FOODS LTD. was last trading in BSE at Rs. 65.62 as compared to the previous close of Rs. 68.16. The total number of shares traded during the day was 56120 in over 691 trades.

The stock hit an intraday high of Rs. 69.00 and intraday low of 63.01. The net turnover during the day was Rs. 3680574.00.

*Assuming full subscription

Source : Equity Bulls

Keywords

SPECTRUMFOODS INE547C01018 FundRaising RightsIssue 4For1 RecordDate