Rights Issue update: Promoters oversubscribe beyond entitlements
JAYKAY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 10.8 pts more than Nifty Microcap 250 and 12.7 pts more than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Jaykay Enterprises is updating on its Rights Issue of up to 2.05 crore partly paid-up equity shares of Re. 1 face value. Listing and trading of these shares is under process. Some promoter group members holding 7.07 lakh entitlements did not subscribe and did not renounce them either. However, the main Promoter along with other promoter group members collectively subscribed to 19.45 lakh additional shares over and above their entitlements, showing confidence in the company.
Promoter oversubscription signals confidence, but non-subscription by some promoter group members without renunciation is a mild watch point.