Shriram Transport Finance Company Ltd to issue rights shares at Rs. 570 per share

The Securities Issuance Committee of Shriram Transport Finance Company Ltd in its meeting held today, has approved the following terms of the Rights Issue of equity shares of face value of Rs. 10 each for an amount not exceeding Rs.1,500 Crores ('Issue'):

Issue Price: Rs. 570 per fully paid-up rights equity share (including a premium of Rs. 560 per rights equity share).

Terms of payment of Issue Price: The full amount of the Issue Price being Rs. 570 per rights equity share will be payable on application.

Rights Entitlement Ratio: 3 rights equity shares for every 26 equity shares held by Eligible Shareholders as on the Record Date.

The Securities Issuance Committee fixed Friday, July 10, 2020 as the 'Record Date' for the purpose of determining the equity shareholders entitled to receive the Rights Entitlement in the Rights Issue of equity shares of face value of Rs.10 each for an amount not exceeding Rs.1,500 Crores ('Eligible Shareholders')

Shares of SHRIRAM TRANSPORT FINANCE CO.LTD. was last trading in BSE at Rs.696.4 as compared to the previous close of Rs. 695.85. The total number of shares traded during the day was 90657 in over 2810 trades.

The stock hit an intraday high of Rs. 712.5 and intraday low of 691.15. The net turnover during the day was Rs. 63536607.

Source : Equity Bulls

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