Vardhman Special Steels Ltd approves Rights Issue

April 10, 2017 shall be the record date for the purpose of ascertaining the eligible equity shareholders and eligible employees for the proposed Rights Issue of Vardhman Special Steels Ltd.

The issue of 1,35,70,000 equity shares comprises of issue of 1,23,70,000 rights equity shares to the eligible equity shareholders and reservation of upto 12,00,000 equity shares for the eligible employees.

The Issue price per Equity Share is Rs. 50.00 per equity share having face value of Rs. 10.00 each (including a premium of Rs. 40.00 per Equity Share). The size of the issue is Rs. 67.85 crores.

The rights entitlement ratio is fixed as 2:3 (2 equity shares for every 3 equity shares held by the eligible shareholders as on the record date).

Shares of VARDHMAN SPECIAL STEELS LTD. was last trading in BSE at Rs.118.5 as compared to the previous close of Rs. 119. The total number of shares traded during the day was 2302 in over 52 trades.

The stock hit an intraday high of Rs. 121 and intraday low of 118.5. The net turnover during the day was Rs. 276585.

Source : Equity Bulls

Keywords