Specialty chemical stock declares record date for 2:17 rights issue

The company has said in a stock exchange filing that its “Board of Directors has considered and approved the following terms and conditions of the Rights Issue:

1. Total number of Partly Paid-up Equity Shares: 8,92,291 Partly paid up equity shares of Rs. 10/- each at an issue price of Rs. 555 (Rupees Five Hundred and Fifty-Five) per Equity Share aggregating to an amount of Rs. 49,52,21,505* to all the eligible equity shareholders of the Company on a rights basis. * Assuming Full Subscription

2. Terms of Payment: – Rs. 222/- (Rupees Two Hundred and Twenty-Two) i.e. mo 40% on application and remaining 60% on subsequent calls as may be decided by the Committee of the Board from time to time.

3. Issue Price: Rs. 555 (Rupees Five Hundred and Fifty-Five Only) per Equity Share.

4. Record Date: January 17, 2023 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (‘Eligible Equity Shareholders’).

5. Right Entitlement Ratio: 2 (Two) Rights Equity Shares for every 17 (Seventeen) Fully Paid Equity Shares held by the Existing Shareholders on the Record Date.

6. Rights Issue Period: Issue Opening date- January 25, 2023, Last date for on market renunciation- January 27, 2023, issue closing date- February 03, 2023.”

The shares of Aarti Surfactants Limited closed today at ₹639.00 apiece level on the NSE, up by 0.89% from the previous close of ₹633.35. The stock recorded a total volume of 7,214 shares compared to the 20-Day average volume of 9,847 shares. The stock went public on July 14, 2020, and since then it has climbed by 55.63%, setting a record high. The stock had touched a 52-week-high of ₹1,074.80 on (17-Jan-2022) and a 52-week-low of ₹596.10 on (26-Dec-2022). For the quarter ended September 2022 or Q2FY23, the company reported a promoter shareholding of 45.04% and a public stake of 54.96%.