• With a market valuation of ₹3,837.25 Crore, Share India Securities is a small-cap business that operates in the Financial Services industry.
With a market valuation of ₹3,837.25 Crore, Share India Securities is a Small-cap business that operates in the Financial Services industry. The firm has fixed February 28 as the record date for evaluating the eligibility of shareholders for rights issue of equity shares of face value of Rs. The eligible shareholders of the company were approved with rights securities 10 each for an aggregate amount of Rs. 100,000 lakhs. The company will fund up to ₹804 crore through the rights issue.
The rights issue ratio has been fixed as 1 rights equity share plus 17 detachable warrants per rights equity share, for every 50 fully paid-up equity shares held by the eligible equity shareholders on the record date and at issue price per The rights equity share has been fixed. On Rs. 700 per equity share of face value of Rs. 10 each (including premium of Rs.690/- per equity share).
The record date is set for Tuesday, February 28, 2023, the issue opening date is Thursday, March 09, 2023, the issue closing date is Friday, March 17, 2023 and the last date for market sacrifice is Monday, March 13, 2023 It has been determined .
The total number of Rights Securities to be issued is capped at 6,38,131 Rights Equity Shares of face value of Rs. 10/- each with 1,08,48,227 detachable warrants at an issue price of Rs. 700/- per equity share and per detachable warrant for an aggregate amount of up to Rs. 80,404.51/- Lakhs.
The investor will be eligible for 1 rights entitlement for every 50 fully paid-up shares held. For every 50 fully paid up shares, an investor will get 1 fully paid up right equity share and 17 detachable warrants. Noting that the proposed record date is February 28, 2023. Therefore, a retail investor who buys shares before February 28, 2023, will cease to be a shareholder on that day and will be eligible for rights issue credit.
