Board approves rights issue of up to Rs 1,450 crore
SMLMAH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.5 pts more than its Agricultural Commercial & Construction Vehicles 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.
The board approved raising up to Rs 1,450 crore by issuing fully paid equity shares of Rs 10 each to eligible shareholders through a rights issue. The issue price, entitlement ratio and record date will be decided later, subject to exchange and regulatory approvals.
The raise may strengthen finances but dilute existing shareholders and pressure the share price. Final terms are not yet known.