Universal Cables Ltd approves rights issue at Rs. 51

The Rights Issue Committee of the Board of Directors of Universal Cables Ltd, has in its meeting held on September 07, 2015 approved the rights issues.

The Rights Issue Price has been fixed as Rs. 51/- per Equity Share of face value of Rs. 10/- each (including premium of Rs. 41/- per Equity Share).

The Rights Entitlement Ratio for the Issue will be 1 Rights Equity Share for every 2 Equity Shares held by the Eligible Equity Shareholders as on the Record Date.

All the Rights Equity Shares to be issued pursuant to the Issue shall rank pari passu with existing Equity Shares of the Company.

The Number of Rights Equity Shares Offered is 1,15,65,127 and the Issue Size is Rs. 58,98,21,477/-

The Equity Shares are being offered on a rights basis to the Eligible Equity Shareholders in the ratio of 1 Equity Share for every 2 Equity Shares held as on the Record Date.

Shares of UNIVERSAL CABLES LTD. was last trading in BSE at Rs.48.8 as compared to the previous close of Rs. 47.25. The total number of shares traded during the day was 415 in over 8 trades.

The stock hit an intraday high of Rs. 48.8 and intraday low of 44.9. The net turnover during the day was Rs. 18981.

Source : Equity Bulls

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