Bannari Amman Spinning Mills Limited has informed the Exchange that Board of Directors at its meeting held on April 24, 2025, has decided to issue equity shares on rights basisa) Right Issue Size: 1,50,79,504 (One crore Fifty Lakhs Seventy Nine Thousand Five Hundred and Four) Equity Shares of face value of Rs.5/- each, for an aggregate amount not exceeding Rs.40,71,46,608/- (Rupees Forty Crore Seventy One Lakhs Forty Six Thousand Six Hundred and Eight Only);b) Right Issue Price: Rs.27/- (Twenty Seven) Per Equity Share (including a share premium of Rs.22/- (Twenty Two) per equity share)c) Right Entitlement Ratio: Ratio of 10 (Ten) rights equity shares for every 43 (Forty Three) fully paid up equity shares held as on the record date.
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The Board of Directors of Bannari Amman Spinning Mills, meeting on April 24, 2025, approved a rights issue of up to 1,50,79,504 equity shares of Rs. 5 face value each, at Rs. 27 per share, for an aggregate amount not exceeding Rs. 40.71 crores. The issue price includes a share premium of Rs. 22 per share. Shareholders will be eligible in the ratio of 10 rights shares for every 43 fully paid-up equity shares held. The record date is April 30, 2025, with the issue opening on May 13, 2025 and closing on May 26, 2025.
The rights issue will dilute existing shareholders by roughly 23% if fully subscribed, but offers them the opportunity to maintain their proportionate ownership at a price (Rs. 27) well above the face value. Short-term stock price may face mild pressure near the record date as the ex-rights adjustment approaches, though the relatively small issue size limits dilution impact.