Sobhagya Mercantile Ltd approves 34:1 rights issue

The Board of Directors of Sobhagya Mercantile Limited in their meeting held today i.e. Tuesday, 16th April, 2024 at the corporate office of the Company situated at 526,1st floor, Bhangdiya House, near Get-Well Hospital, Dhantoli, Nagpur, Maharashtra 44.0012, considered and approved the following terms of the Rights Issue:

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

b) Total number of Equity Shares and Rights Issue size: up to 81,60,000 fully paid-up Equity Shares each for amount aggregating up to Rs. 1713.60 lakhs;

c) Rights Issue Price: Rs. 21.00 per fully paid-up Equity Share (including a premium of Rs. 11 per Equity Share);

d) Record Date: Tuesday, April 23, 2024, 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:

i) Rights Issue Opening Date: Monday, May 06 2024
ii) Last date for on market renunciation: Thursday, May 16, 2024
iii) Rights Issue Closing Date: -Tuesday, May 21, 2024

f) Outstanding Equity Shares:

i) Prior to the Rights Issue: 2,40,000 fully paid-up Equity shares
ii) Post Rights Issue#: 84,00,000 fully paid Equity shares
#assuming full subscription

g) Rights Entitlement Ratio: 34:1(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 34 (Thirty-Four) Rights Equity Shares for every 1(One) Equity Share held by an Eligible Equity Shareholder.

Source : Equity Bulls

Keywords

SobhagyaMercantile FundRaising RightsIssue 34For1 RecordDate