Bannari Amman Spinning Mills Ltd announces rights issue at Rs. 30 per share

The Board of Directors of Bannari Amman Spinning Mills Ltd at its meeting held today on 1st September, 2021 have considered and approved the terms of Rights Issue.

Right Issue Size: 3,33,33,333 Equity Shares of face value of Rs.5 each, for an aggregate amount not exceeding Rs.99,99,99,990 (Rupees Ninety-Nine Crore Ninety-Nine Lakhs Ninety-Nine Thousand Nine Hundred and Ninety Only);

Right Issue Price: Rs.30 Per Equity Share;

Right Entitlement Ratio: 1.05 equity share for every 1 existing share held by the eligible shareholders as on the record date;

Issue timeline:

Issue Opening Date - 20th September, 2021
Last date for on Market Renunciation - 28th September, 2021
Issue Closing Date - 4th October, 2021

The record date for the purpose of determining the equity shareholders who are entitled to receive the Rights Entitlement in Rights Issue is Thursday, 9th September, 2021 ("Record Date").

Shares of Bannari Amman Spinning Mills Ltd was last trading in BSE at Rs. 89.95 as compared to the previous close of Rs. 85.7. The total number of shares traded during the day was 32646 in over 378 trades.

The stock hit an intraday high of Rs. 89.95 and intraday low of 84. The net turnover during the day was Rs. 2886393.

Source : Equity Bulls

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