SML Mahindra plans 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.
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SML Mahindra's board approved raising up to Rs 1,450 crore by issuing new equity shares to eligible shareholders through a rights issue. The issue price, rights ratio and record date have not yet been decided and require exchange and other approvals.
Eligible shareholders may need to invest more to keep their ownership percentage unchanged. The cash burden and possible price impact depend on terms still to be announced.