Hilton Metal Forging Ltd announces 2:5 rights issue

The Board of directors of Hilton Metal Forging Ltd at its meeting held today i.e. Saturday, October 15, 2022 has considered and approved the terms and conditions of the Rights Issue.

Instrument: Fully paid-up equity shares having a face value of Rs.10/- each (Equity Shares).

Total number of Fully paid-up Equity Shares and Rights Issue size: 60,00,000 Fully paidup equity shares of Rs. 10/- each at an issue price of Rs. 55/- per Equity Share aggregating to an amount of Rs. 3300.00 Lakhs* to all the eligible equity shareholders of the Company on a rights basis.

* Assuming Full Subscription

Issue Price: Rs. 55/- (Rupees Fifty Five Only) per Equity Share (including a premium of Rs. 45/- (Rupees Forty Five Only) per Equity Share.

Record Date: October 20, 2022 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders").

Right Entitlement Ratio: 2 (Two) Rights Equity Share for every 5 (Five) Fully Paid Equity Shares held by the Existing Shareholders on the Record Date.

Shares of Hilton Metal Forging Limited was last trading in BSE at Rs. 79.85 as compared to the previous close of Rs. 78.70. The total number of shares traded during the day was 53038 in over 901 trades.

The stock hit an intraday high of Rs. 82.40 and intraday low of 76.20. The net turnover during the day was Rs. 4215607.00.

Source : Equity Bulls

Keywords

HiltonMetalForging INE788H01017 RightsIssue FundRaising 2For5 RecordDate