The Board of Directors of B.N. Rathi Securities Limited in their meeting held today have approved the rights issue of 33,60,000 fully paid-up Equity Shares to eligible shareholders of the Company at a price of Rs. 22 per equity share as on the record date for an amount not exceeding Rs. 739.20 lakhs.
The rights shares will be allotted in the ratio of 2:3 (Two new equity shares for every Three equity shares held on the record date.
The Full amount of Rs.22/- per Equity Share is payable on application.
December 17, 2021 has been fixed as the record date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders").
The Rights Issue will opens for subscription on January 03, 2022 and close on January 17, 2022. The last date for On Market Renunciation of Rights Entitlement is January 11, 2022.
The outstanding Equity Shares prior to the Rights Issue is 50,40,000 Equity Shares and outstanding Equity Shares post Right Issue (assuming full subscription) is 84,00,000 Equity Shares.
Shares of B.N.RATHI SECURITIES LTD. was last trading in BSE at Rs. 37.85 as compared to the previous close of Rs. 36.15. The total number of shares traded during the day was 4068 in over 54 trades.
The stock hit an intraday high of Rs. 37.90 and intraday low of 37.35. The net turnover during the day was Rs. 153880.00.