Som Distilleries and Breweries Ltd announces 10:211 rights issue at Rs. 140 per share

The Board of Directors of Som Distilleries and Breweries Ltd has, at its meeting held today, approved the issue of 3495952 Equity Shares of face value of ₹5/- each at an issue price of ₹140/- per Equity Share (including premium of ₹135/- per Equity Share) for an amount aggregating up to ₹4,894.33 lakhs to all the existing equity shareholders of the Company on a rights basis ("Rights Issue").

The ratio of rights issue is 10 (Ten) Rights Equity Share of ₹5/- each for every 211 (Two Hundred Eleven) Equity Shares of ₹5/- each held by the equity shareholders in the Company as on the record date ("Eligible Equity Shareholders") with the right to renounce.

Friday, April 14, 2023 has been fixed as the record date for the purpose of determining names of shareholders of the Company eligible to apply for the Equity Shares in the Rights Issue of the Company ("Record Date").

The following Schedule for the Rights Issue:

Issue Opening Date - Wednesday, April 26, 2023
Last date for On Market Renunciation of the Rights Entitlements* - Monday, May 8, 2023
Issue Closing Date# Thursday, May 11, 2023

The full amount of the Issue Price being ₹140/- will be payable on application.

Shares of Som Distilleries & Breweries Limited was last trading in BSE at Rs. 158.35 as compared to the previous close of Rs. 158.25. The total number of shares traded during the day was 57394 in over 1563 trades.

The stock hit an intraday high of Rs. 162.00 and intraday low of 157.55. The net turnover during the day was Rs. 9149732.00.

* Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the Renouncee(s) on or prior to the Issue Closing Date.

Source : Equity Bulls

Keywords

SomDistilleriesandBreweries INE480C01020 SDBL FundRaising RightsIssue RecordDate 10For211