Share India Securities rights issue hits D-Street; check out issue size, price and other important details
Share India rights issue: The company aims to raise up to Rs 804 crore through the rights issue, which hit the Street on March 9 and will close on March 17.
Share India rights issue: A rights issue by financial services company Shares India Securities to raise up to Rs 804 crore hit Dalal Street on Thursday, March 9. A rights issue is a type of corporate action that enables existing shareholders of a company to buy additional shares at a special price.
Here's all you need to know about the Share India Securities rights issue, including the issue price, the issue size and the last date:
Share India rights issue: Important dates
The Share India Securities rights issue, which opened on March 9, will close on Friday, March 17.
The last date for market renunciation is Monday, March 13, 2023. This date determines the last date for shareholders to refuse to subscribe to a rights issue and or trade the entitlement in favour of another investor.
Share India Securities shares will be credited to the demat account of shareholders on March 31, and trading will commence on Tuesday, April 4.
Share India Securities: Rights issue price
The issue price per rights equity shares is set at Rs 700 per share of face value of Rs 10 each.
Share India Securities rights issue: Entitlement ratio
The rights entitlement ratio is fixed as one rights equity share along with 17 detachable warrants for every 50 fully paid-up equity shares held by eligible shareholders as on the record date.
An entitlement ratio determines the amount of rights entitlements offered to shareholders basis the number of securities held on the record date.
Share India Securities: Rights issue size
Share India Securities will issue up to 6,38,131 rights equity shares of face value of Rs 10 each along with up to 1,08,48,227 detachable warrants at Rs 700 apiece, for an aggregate amount of up to Rs 804 crore.
Also Read: Income Tax: What are the 3 deductions under the new tax regime?
Company profile
Share India Securities offers products and services in the financial segment, and has been operating in the field of algo-trading.
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