Hindware Home Innovation Limited fixes Oct 25, 2024 as record date for 119:758 rights issue

The Rights Issue Committee of the Board of Hindware Home Innovation Limited at its meeting held today, i.e. on October 18, 2024, has considered and approved the following terms of the Rights Issue:

Total number of Rights Equity Shares and Rights Issue size: 1,13,49,962 Rights Equity Shares each for an amount aggregating upto ₹249.70 crores (assuming full subscription).

Rights Issue Price: ₹220 per Rights Equity Share (including a premium of ₹218) per Rights Equity Share)

Record date: Friday, October 25, 2024

Rights Issue period:

Rights Issue Opening Date: Thursday, November 07, 2024;
Rights Issue Closing Date: Friday, November 22, 2024
On-market renunciation period: Thursday, November 07, 2024, to Monday, November 18, 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.

Outstanding Equity Shares:

Prior to the Rights Issue: 7,22,96,395 equity shares of the Company.

Post Rights Issue#: 8,36,46,357 equity shares of the Company.

#Assuming full subscription.

Rights entitlement ratio and fractional entitlements: The Rights Equity Shares are being offered on a rights basis to Eligible Equity Shareholders in the ratio of 119 (One Hundred Nineteen) Rights Equity Shares for every 758 (Seven Hundred Fifty-Eight) fully paid-up Equity Shares held on the record date. For Rights Equity Shares being offered under this Issue, if the shareholding of any of the Eligible Equity Shareholders is less than 7 (Seven) Equity Shares or not in the multiple of 758 (Seven Hundred Fifty-Eight), the fractional entitlement of such Eligible Equity Shareholders shall be ignored in the computation of the Rights Entitlement.

However, the Eligible Equity Shareholders whose fractional entitlements are being ignored, will be given preferential consideration for the allotment of one additional Rights Equity Share each if they apply for additional Rights Equity Shares over and above their Rights Entitlement, if any.

For example, if an Eligible Equity Shareholder holds 7 (Seven) Equity Shares, such Equity Shareholder will be entitled to one Equity Share and will also be given a preferential consideration for the Allotment of one Additional Rights Equity Share if such Eligible Equity Shareholder has applied for Additional Rights Equity Shares, over and above his/her Rights Entitlements, subject to availability of Rights Equity Shares in the Issue post allocation towards rights entitlements applied for.

Further, the Eligible Equity Shareholders holding less than 7 (Seven) Equity Shares shall have 'zero' Rights Entitlement in the Issue. Such Eligible Equity Shareholders are entitled to apply for additional Rights Equity Shares and will be given preference in the allotment of one additional Rights Equity Share if such Eligible Equity Shareholders apply for the additional Rights Equity Shares. However, they cannot renounce the same in favour of third parties and the application forms shall be non-negotiable.

ISIN for Rights Entitlement: INE05AN20011

Shares of Hindware Home Innovation Limited was last trading in BSE at Rs. 334.05 as compared to the previous close of Rs. 341.65. The total number of shares traded during the day was 6852 in over 514 trades.

The stock hit an intraday high of Rs. 340.05 and intraday low of 332.10. The net turnover during the day was Rs. 2306335.00.

Source : Equity Bulls

Keywords

HindwareHomeInnovation INE05AN01011 FundRaising RightsIssue 119For758 RecordDate