Share India Securities Ltd fixes Feb 28, 2023 as record date for rights issue

The Rights Issue Committee ("Committee") of Share India Securities Limited in its meeting held on February 22, 2023 has approved the terms of Rights Issue of Equity Shares of face value of Rs. 10/- each along with Detachable Warrants ("Rights Securities") to the eligible shareholders of the Company was approved, for an aggregate amount not exceeding Rs. 100,000 Lakhs.

Rights Entitlement Ratio: 1 (one) Rights Equity Share along with 17 (seventeen) Detachable Warrants per Rights Equity Share, for every 50 (fifty) fully paid-up Equity Shares held by Eligible Equity Shareholders as on the Record Date.

Issue Price per Rights Equity Share: Rs. 700/- per Equity Share of face value of Rs. 10/- each (including a premium of Rs. 690/- per Equity Share), required to be paid on Application i.e., 100% of amount payable per Rights Equity Shares.

Issue Price per Detachable Warrant Price: Rs. 700/- per Detachable Warrant, required to be paid as below:

On Application [being 25% of Issue Price per Detachable Warrant Price] - Rs. 175

On Warrant Exercise [balance 75% of Issue Price per Detachable Warrant Price payable within 18 months from the date of allotment of Detachable Warrants] - Rs. 525/-

Total no. of Rights Securities to be issued: Upto 6,38,131 Rights Equity Shares of face value of Rs. 10/- each along with up to 1,08,48,227 Detachable Warrants at an Issue Price of Rs. 700/- per Equity Share and per Detachable Warrants, for an aggregate amount of upto Rs. 80,404.51/- lakhs ("the Issue Size").

The Record Date for the purpose of determining the shareholders eligible to apply for the Rights Securities in the Rights Issue is fixed as Tuesday, February 28, 2023.

Schedule of the Issue:

Issue Opening Date: Thursday, March 09, 2023
Issue Closing Date: Friday, March 17, 2023
Last Date for on Market Renunciation: Monday, March 13, 2023

Shares of Share India Securities Limited was last trading in BSE at Rs. 1188.70 as compared to the previous close of Rs. 1199.10. The total number of shares traded during the day was 6059 in over 517 trades.

The stock hit an intraday high of Rs. 1205.00 and intraday low of 1183.80. The net turnover during the day was Rs. 7265728.00.

Source : Equity Bulls

Keywords

ShareIndiaSecurities INE932X01018 RightsIssue FundRaising EquityShares ConvertibleWarrants