Piramal Pharma Limited fixes Aug 2, 2023 as record date for rights issue

The Committee of Directors (Rights Issue) of Piramal Pharma Limited at its meeting held today, July 27, 2023, has considered and approved the following terms of the Rights Issue:

a. Instrument: Fully paid-up Equity Shares of face value of ₹10 each;

b. Total number of Equity Shares and Rights Issue size: 129,629,630 fully paid-up Equity Shares each for amount aggregating up to ₹1,050 crore;

c. Rights Issue Price: ₹81.00 per fully paid-up Equity Share [including a premium of ₹ 71 per Equity Share];

d. Record Date: Wednesday, August 2, 2023 designated for the purpose of determining the existing equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders")

e. Rights Issue period:
1. Rights Issue Opening Date: Tuesday day, August 8, 2023
2. Rights Issue Closing Date: Wednesday day, August 16, 2023

f. Outstanding Equity Shares:

1. prior to the Rights Issue: 1,19,33,18,500 fully paid Equity Shares;
2. post Rights Issue# : 1,322,948,130 fully paid Equity Shares.
#assuming full subscription

g. Rights Entitlement Ratio: 5:46 (Number of Rights Equity Shares that an Eligible Equity Shareholder is entitled to in proportion to the number of Equity Shares held by such Eligible Equity Shareholder on the Record Date, in this case being 5 Rights Equity Shares for every 46 Equity Shares held by an Eligible Equity Shareholder.)

h. Other terms of the Rights Issue (including fractional and zero entitlements): To be included in the Letter of Offer to be filed by the Company with Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited.

Shares of Piramal Pharma Limited was last trading in BSE at Rs. 105.63 as compared to the previous close of Rs. 108.46. The total number of shares traded during the day was 376160 in over 2725 trades.

The stock hit an intraday high of Rs. 107.50 and intraday low of 104.88. The net turnover during the day was Rs. 39796121.00.

Source : Equity Bulls

Keywords

PiramalPharma PPLPHARMA INE0DK501011 Pharmaceuticals FundRaising RightsIssue RecordDate