Wockhardt Limited announces 3:10 rights issue at Rs. 225 per share

The Members of the Capital Raising Committee of the Board of Directors of Wockhardt Limited, at their meeting held today i.e. on Thursday, 3rd March, 2022, considered and approved the following terms and conditions of the Rights issue:

Instrument: Fully paid-up equity shares of face value of ₹5 each ("Equity Shares")

Total number of Equity Shares and Rights Issue size: 3,32,44,650 fully paid-up Equity Shares each for amount aggregating to ₹ 748,00,46,250.

Issue Price: ₹ 225 per fully paid-up Equity Share [including a premium of ₹ 220 per Equity Share]

Issue period:

Issue Opening Date: Tuesday, 15th March, 2022;

Issue Closing Date: Tuesday, 22nd March, 2022.

Outstanding Equity Shares:

- prior to the Rights Issue: 11,08,15,503 Equity Shares;
- post Rights Issue#: 14,40,60,153 Equity Shares.

#assuming full subscription

Rights entitlement ratio: 3:10 (3 Rights Equity Shares for every 10 fully paid-up Equity Shares held by the Eligible Equity Shareholders of the Company, as on the record date). If the shareholding of any of the Eligible Equity Shareholder is 4 or more, such shareholders will be entitled to at least 1 Equity Share.

Record date: Wednesday, 9th March, 2022 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders")

Shares of Wockhardt Limited was last trading in BSE at Rs. 341.00 as compared to the previous close of Rs. 338.35. The total number of shares traded during the day was 44315 in over 1229 trades.

The stock hit an intraday high of Rs. 345.55 and intraday low of 337.00. The net turnover during the day was Rs. 15116703.00.

Source : Equity Bulls

Keywords

Wockhardt INE049B01025 WOCKPHARMA RightsIssue FundRaising RecordDate