Grasim Industries Ltd fixes Jan 10, 2024 as record date for rights issue

The Board of directors of Grasim Industries Limited at its meeting held today has, approved the following terms of the Rights Issue:

Total number of rights equity shares and Rights Issue size: 2,20,73,935 equity shares of the Company each on partly-paid basis ("Rights Equity Shares") for an amount aggregating to ₹ 3,999.80 crore.

Rights Issue price: ₹ 1,812 per Rights Equity Share when fully paid-up (including a premium of ₹ 1,810 per Rights Equity Share)

Rights entitlement ratio: 6 Rights Equity Shares for every 179 fully paid-up equity share of the Company held by the eligible equity shareholders of the Company, as on the record date ("Eligible Equity Shareholders").

Record date: Wednesday, 10th January 2024

Amount payable per Rights Equity Share

On Application - Rs. 453.00 (Face Value - Rs. 0.50 and Premium - Rs. 452.50)

Up to three additional Calls, with terms and conditions such as the number of Calls and the timing and quantum of each Call as may be decided by the Board/ Rights Issue Committee - 2023 from time to time to be completed on or prior to March 2026 - Rs. 1359 (Face Value - Rs. 1.50 and Premium - Rs. 1357.50)

Rights Issue period:

Rights Issue opening date: Wednesday, 17th January 2024;
On-market renunciation period: Tuesday, 23rd January 2024;
Off-market renunciation: It is noted that the eligible equity shareholders will have to ensure that renunciation through off-market transfers are completed in such a manner that the rights entitlements are credited to the demat account of the renouncees on or prior to the Issue closing date; and
Rights Issue closing date: Monday, 29th January 2024.

Shares of Grasim Industries Limited was last trading in BSE at Rs. 2068.60 as compared to the previous close of Rs. 2070.70. The total number of shares traded during the day was 8023 in over 837 trades.

The stock hit an intraday high of Rs. 2095.10 and intraday low of 2059.40. The net turnover during the day was Rs. 16678655.00.

Source : Equity Bulls

Keywords

GrasimIndustries INE047A01021 FundRaising RightsIssue RecordDate