Rights issue of Share India to open on March 09, 2023: Check key details

The rights issue ratio has been fixed as 1 rights equity share along with 17 detachable warrants per rights equity share, for every 50 fully paid-up equity shares held by eligible equity shareholders as on the record date and issue price per rights equity share is fixed at Rs. 700 per equity share of face value of Rs. 10 each (including a premium of Rs. 690/- per equity share).

The record date is fixed as Tuesday, February 28, 2023, issue opening date is Thursday, March 09, 2023, issue closing date is Friday, March 17, 2023 and last date for on market renunciation is set to Monday, March 13, 2023.

The total number of rights securities to be issued is fixed upto 6,38,131 rights equity shares of face value of Rs. 10/- each along with up to 1,08,48,227 detachable warrants at an issue price of Rs. 700/- per equity share and per detachable warrants, for an aggregate amount of upto Rs. 80,404.51/- lakhs.

The investor will be eligible for 1 right entitlement for every 50 fully paid up shares. For every 50 fully paid up shares, an investor will get 1 fully paid right equity share and 17 detachable warrants. Considering that the proposed record date is February 28, 2023. So, a retail investor who buys shares before February 28, 2023, will make an appearance as a shareholder on that day and be eligible for the rights issue credit.

The shares of Share India Securities closed today on the NSE at ₹1,214.90 apiece level, up by 2.54% from the previous close of 1,184.75. In the last 1 year the stock has gained 11.33% and on a YTD basis it has fallen 0.87% so far in 2023. The stock touched a 52-week-high of ₹1,475.00 on (26-Apr-2022) and a 52-week-low of ₹1,003.85 on (24-Feb-2022).