Mercury Trade Links Ltd approves 10:1 rights issue

The Rights Issue Committee of the Board of directors of Mercury Trade Links Limited at its meeting held today, i.e. Monday, 26th February 2024, have considered and approved the following terms of the Right Issue:

1. Total number of Equity Shares and Rights Issue size: 24,75,000 Fully paid-up Equity Shares of ₹ 10/- (Rupees Ten Only) each at an issue price of ₹ 40/- (Rupees Forty Only) per equity share aggregating to ₹ 9,90,00,000/-.

2. Right Issue Price:

₹ 40 per fully paid up Equity Shares (including a premium of ₹ 30 per Equity Share).

3. Right Entitlement Ratio:

10 (Ten) new Right Shares for every 1 (One) Existing Equity Shares held by the eligible shareholders as on the Record Date as mentioned below.

4. Record Date:

Fixed the Record Date on Friday 01st March, 2024 for the purpose of determining the eligible shareholder to apply for the Right Issue.

5. Right Issue Period :

Issue Opening Date: Monday, 11th March 2024
Issue Closing Date: Thursday, 21st March 2024

6. Terms of Payment:

The Issue Price of Rs. 40/- per Equity Share shall be payable at the time of application.

7. Outstanding of Equity Shares:

Prior to the Right Issue: 2,47,500 Equity Shares
Post Right Issue#: 27,22,500 Equity Shares
# assuming full subscription

8. ISIN for Rights Entitlement: ISIN for RE - INE319T20016

Source : Equity Bulls

Keywords

MercuryTradeLinks RightsIssue 10For1