Intimation of Listing approval for 2,03,88,000 Equity Shares from BSE on Right Basis.
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U. H. Zaveri Ltd has received approval from BSE to list 2,03,88,000 (about 2.04 crore) fully paid-up equity shares of Rs. 10 each that were issued on a rights basis at par (Rs. 10 per share). The shares carry distinctive numbers from 10194001 to 30582000. This means the total capital raised through this rights issue was approximately Rs. 20.39 crore. The company had already allotted these shares to eligible shareholders; now BSE has formally permitted their trading on the exchange. Trading will actually begin only after the company confirms to BSE that the shares have been credited to investors' demat accounts by the depositories.
This is a routine post-allotment listing announcement following a rights issue. Once trading begins, the share float will increase, which may cause mild short-term dilution pressure on the stock price. Existing shareholders who did not subscribe to the rights issue will see their proportional holding reduce.