Stock in focus today: Hilton Metal Forging Rights issue is available at a premium of approx ₹18 per share.
• Hilton Metal Forging has declared a rights issue in the ratio of 2:5
Hilton Metal Forging Share is one of the multibagger stocks in the Indian stock market. The small-cap stock has risen from around ₹14 to ₹73.25 levels on NSE in the last one year. Multibagger Stock has recently approved a rights issue in the ratio of 2:5 on ex-date basis. The board of directors of the company has fixed 20 October 2022 as the record date for the rights issue. Hence, Small-cap Multibagger stock is going to trade ex-rights today.
As per the information available on the BSE website, "The trading members of the Exchange are hereby informed that, for the purpose of rights issue of equity shares, Hilton Metal Forging Limited has fixed the record date. on ex-rights basis from the date mentioned on 20/10/2022."
Hilton Metal Forgings Limited, while informing the Indian Stock Market Exchanges about the recorded date of the rights issue, said, “In compliance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that The Company has fixed Thursday, October 20, 2022 as the record date for determining the Equity Shareholders entitled to receive the Rights Entitlement in the Rights Issue."
Here we list below important Hilton Metal Forging Rights issue details:
1] Hilton Metal Forging Rights Issue Price: The company is offering its shares in this rights issue at ₹55 per share.
2] Hilton Metal Forging Rights Issue Premium: The share price of Hilton Metal Forgings is around ₹73 today, which means the company is offering its shares at a premium of ₹18 per share.
3] Hilton Metal Forging Rights Issue Record Date: The small-cap company has set 20 October 2022 as the record date for Hilton Metal Forging Rights Issue.
4] Hilton Metal Forging Rights Issue Size (Shares): The small-cap company has offered 6 million shares of the company out of its reserves in this rights issue offer.
5] Hilton Metal Forging Rights Issue Size (Amount): The company is planning to raise Rs 33 crore from this rights issue.
6] Hilton Metal Forging Rights Issue Entitlement: The Board of the Company has considered and approved that two rights issue shall be issued to eligible shareholders for every five shares held on the record date of the rights issue.
7] Hilton Metal Forging Rights Issue Listing: The rights are proposed for listing on both BSE and NSE.
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