Uttam Sugar Mills fixes rights issue price at Rs.22

The Board of Directors of Uttam Sugar Mills Ltd at its meeting held on August 28, 2012, have approved the issue of 1,23,69,120 Equity Shares of face value of Rs. 10/- each to the existing Equity Share Holders on Rights basis in the ratio of 12 Equity Shares for every 25 Equity Shares held by the Shareholders on the Book closure date.

The issue price of Rights Shares will be Rs. 22/- i.e. every Equity Share of Rs. 10/- each shall be issued at a premium of Rs. 12/-.

The Uttam Sugar Mills Ltd stock closed the day at Rs.24.80, down by Rs.0.20 or 0.80%. The stock hit an intraday high of Rs.25.25 and low of Rs.24.80.

The total traded quantity was 800 compared to 2 week average of 1240.

Source : Equity Bulls

Keywords