Bannari Amman Spinning Mills Limited has informed the Exchange that Record date for the purpose of Rights is 30-Apr-2025.
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Bannari Amman Spinning Mills has announced the terms of its upcoming Rights Issue, approved by the Board on April 24, 2025. The company will issue up to 1.50 crore equity shares of Rs.5 face value at a price of Rs.27 per share (including a Rs.22 premium), raising up to Rs.40.71 crore. Shareholders will get 10 rights shares for every 43 fully paid shares held as on the record date of April 30, 2025. The issue opens on May 13, 2025, and closes on May 26, 2025, with May 19 being the last date for on-market renunciation.
Eligible shareholders as on the record date (April 30, 2025) will receive rights entitlements credited to their demat accounts. The issue price of Rs.27 is well above the Rs.5 face value, but shareholders need to evaluate if subscribing makes sense based on prevailing market price and their holding. The issue represents a modest capital raise of about Rs.40.71 crore, which may lead to some short-term price adjustment when shares trade ex-rights.