HCP Plastene Bulkpack Ltd approves 3:5 rights issue at Rs. 600 per share

The Members of the Management Committee of HCP Plastene Bulkpack Ltd, at their meeting held today i.e. on Monday, March 14, 2022, have considered and approved the terms and conditions of the Rights issue.

Total number of Equity Issue of upto 4,41,000 fully paid-up Equity Shares of Rs. 10 each for amount aggregating to Rs. 2646 Lakhs.

Issue Price - Rs. 600 per fully paid-up Equity Share [including a premium of Rs. 590 per Equity Share]

Outstanding Equity Shares

- prior to the Rights Issue: 1,02,33,837 Equity Shares
- Post Rights Issue#: 1,06,74,837 Equity Shares (#assuming full subscription)

Record Date - Friday, 18th March, 2022 for the purpose of determining the equity shareholders (Public Category) entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders").

Rights entitlement ratio - 3:5 (3 Rights Equity Shares for every 5 fully paid-up Equity Shares held by the Eligible Public Equity Shareholders of the Company, as on the record date).

ISIN for Rights Entitlement - The Company has obtained International Securities Identification Number (ISIN): INE136C20010 for the purpose of credit of the rights entitlements.

Shares of HCP Plastene Bulkpack Ltd. was last trading in BSE at Rs. 628.30 as compared to the previous close of Rs. 629.25. The total number of shares traded during the day was 4994 in over 81 trades.

The stock hit an intraday high of Rs. 648.70 and intraday low of 597.80. The net turnover during the day was Rs. 3049659.00.

Source : Equity Bulls

Keywords

HCPPlasteneBulkpack INE136C01044 RightsIssue FundRaising