Board approves Rights Issue worth up to Rs 69.28 crore at 1:1 ratio
URBAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.2 pts more than Nifty Microcap 250, 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.
Board approved a Rights Issue of up to 86.6 lakh fully paid-up equity shares at Rs 80 per share, including a Rs 70 premium over the Rs 10 face value. Total issue size is up to Rs 69.28 crore. The entitlement ratio is 1 Rights Share for every 1 share held on the record date. The Board also approved the Draft Letter of Offer and formed a Rights Issue Committee to decide pricing, ratio, record date and timing.
Eligible shareholders can subscribe at Rs 80 per share in 1:1 ratio; non-participation leads to dilution. Short-term share price may weaken.